NodeWitness chart of bitcoin's price alongside short-term (STH, $75,765) and long-term (LTH, $49,038) realized price, with data through 1 November 2026
NodeWitness chart with data up to 1 Nov 2026 · see it live

Bitcoin Stays Stuck at Recent-Buyer Cost: Second Day of Losses and $412M ETF Outflows

NodeWitness Team 5 min read

On November 6, $631M in losses were realized against $150M in profit and SOPR held at 0.9940. The daily close ($75,844) again matched the cost basis of recent buyers, while US spot bitcoin ETFs shed another $411.9M.

Our node's recalculation puts it plainly: on November 6 (UTC), spent coins left with $631M in losses against $150M in profit. SOPR closed at 0.9940 [1]. The daily price moved from $75,988 on November 5 to $75,844 on November 6 [2], back beside the $75,765 average cost, as of the November 1 reading, of those who bought in recent months [3].

It is the second straight day with SOPR below 1, in the same band we measured when the chain wiped out the post-midterm rebound. The pressure was not only on-chain. US spot bitcoin ETFs saw a net outflow of $411.9M on November 6, after $430.2M on November 5, according to Farside Investors [4].

Our market ticker read the cash price near $75,900 [5]. CoinDesk had bitcoin around the $76,000 zone after the tech-led rout [6]. Cointelegraph had described November 5 with bitcoin below $76,000 and the Nasdaq down 5.5% [7].

SOPR stays below 1

On November 5 the daily SOPR had closed at 0.9928, with $275M in realized profit and $929M in losses [1]. A day later the indicator is still under 1: on average, what was spent left at a loss.

The blunt figure is the mix. $631M in realized losses against $150M in profit. A 4.2-to-1 tilt toward the red [1]. Smaller loss volume than November 5, but still clearly negative.

Date SOPR Realized profit Realized loss CDD (millions)
Nov 4 1.0067 $659M $93M 5.33
Nov 5 0.9928 $275M $929M 14.84
Nov 6 0.9940 $150M $631M 9.40

Source: NodeWitness daily recalculation from our node's blocks [1]. UTC days.

The seven-day average SOPR sits at 0.9977 at the November 6 close, still below 1 [1]. The November 4 bounce we measured after the midterms has not repaired the streak.

The floor still lines up with recent buyers' cost

The average cost of recent buyers, the short-term holder realized price, stood at $75,765 in the November 1 weekly reading [3]. The November 6 close, $75,844, sat just above it.

Approximate daily short-term holder MVRV fell from 1.0029 on November 5 to 1.001 on November 6 [3]. In other words: those buyers were, on average, roughly flat for a second straight day.

Aggregate MVRV, also as a daily approximation, moved from 1.405 to 1.402 [3]. It remains above 1, so the supply as a whole is still, on average, in profit. The squeeze is concentrated among buyers from recent months.

Fewer older coins than the day before

CDD measures how many days the spent coins had sat idle. On November 6, 9.40 million BTC-days were destroyed, against 14.84 million on November 5 [1].

Dormancy, the average age of what was spent, fell to 9.0 days from 12.5 on November 5 [1]. The flow aged less than on the harder session, though it remains above the rebound day (5.0 days on November 4).

CDD summarizes all spent coins and identifies no one. This reading is an inference from aggregate data.

ETFs add a second red session

Farside Investors puts the net outflow at $411.9M on November 6 across US spot bitcoin ETFs [4]. IBIT accounted for −$403.0M. FBTC was the only fund in the green (+$42.8M). BITB (−$20.5M), ARKB (−$20.1M) and GBTC (−$11.1M) also finished negative [4].

In paralell with the on-chain red, it is the second straight day of outflows, after $430.2M on November 5 and a $74.6M inflow on November 4 [4]. In two sessions the ETF market has returned more than $840M.

What to watch next

The next weekly reading of recent buyers' cost arrives with the Sunday, November 8 close. The difficulty adjustment, which our node estimates around a 3.7% decline, is due around November 13 [5].

For now, the cash price is still hugging that $75,000 to $76,000 band that already marked the floor before the rebound.

Daily SOPR can be followed on the SOPR chart. To see whether those recent buyers pull away from their cost or stay pinned to it, the STH/LTH realized price chart and the MVRV chart. Market pulse, on the market page.

Sources

Source type in parentheses.

  1. NodeWitness, daily on-chain series (/api/node/onchain-daily) recalculated from our node's blocks through height 974,868 (2026-11-06). SOPR, realized profit and loss, CDD and dormancy. Seven-day average and ratios computed by NodeWitness. (Primary, own data)
  2. NodeWitness, daily price series (/api/market/price-history), closes for 2026-11-05 ($75,988) and 2026-11-06 ($75,844). (Primary, own data with third-party price)
  3. NodeWitness, realized price by cohorts (/api/market/realized-cohorts/history), weekly reading for 2026-11-01 (height 974,069) and approximate daily MVRV for 2026-11-05 and 2026-11-06. (Primary, own data)
  4. Farside Investors, Bitcoin ETF Flow, flows for 2026-11-04 (+$74.6M), 2026-11-05 (−$430.2M) and 2026-11-06 (−$411.9M; IBIT −403.0, FBTC +42.8, BITB −20.5, ARKB −20.1, GBTC −11.1). (Secondary, market data)
  5. NodeWitness, market ticker and /api/market/price-now, reading on 2026-11-07. Spot ≈ $75,944; difficulty adjustment estimate ≈ −3.7%, retarget around 2026-11-13. (Primary, own data with third-party price)
  6. CoinDesk, Bitcoin recovers $76,000 level as ETFs shed $430 million after tech rout, 2026-11-06. Price near $76,000 after the November 5 session. (Secondary, press)
  7. Cointelegraph, Bitcoin, Ether ETFs post $530M outflows as election gains evaporate, 2026-11-06. Bitcoin below $76,000 on November 5; Nasdaq −5.5%. (Secondary, press)

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Last updated: November 7, 2026