IBIT, the world's largest Bitcoin ETF, has seen hundreds of millions of units traded, signaling that big players are withdrawing money from the market.
Data from the Nasdaq exchange shows that the fund split BlackRock's spot Bitcoin, ticker symbol IBIT, hit a "crazy" record with over 284 million units traded. fund certificates This figure was traded during the February 5th session. This corresponds to a notional value exceeding $10 billion. Notional value is often used to price the underlying asset in a Derivative transaction, and can be the total value of a position, the amount of value a position controls, or the agreed-upon amount in the contract.
For comparison, this volume far exceeded the previous record of 169.21 million certificates set on November 21, 2025, by as much as 169%. The end of November last year was the period Bitcoin (BTC) has been declining after peaking in early October 2025.
Record volume occurred amidst a 13% plunge in IBIT's price to below $35, its lowest level since mid-October 2024, bringing the YTD decline to 27%. Prior to this, the fund's price had peaked at $71.82 in early October 2025.
According to market research platform SoSoValue, on February 5th, the fund recorded a net Capital of $175.33 million, accounting for approximately 40% of the total net outflow of $434.11 million across 11 funds on the same day.
IBIT is currently the world's largest listed Bitcoin fund, holding 761,915 Bitcoin as of the close of trading on February 5th. The fund is designed to closely reflect the spot price of the largest cryptocurrency on the market. Recently, the price of Bitcoin has weakened sharply, at one point falling to nearly $60,000 during the February 5th trading session. IBIT has long been favored by leading global financial institutions and organizations as a channel for investment. invest replacement, accessibility digital currency through product management and monitoring.
The combination of record volume and sharp price drops is often XEM as a sign of capitulation – when long-term investors give up and accept selling at a loss. This typically marks the peak of a bear market sell-off and can initiate a prolonged and difficult Dip process.
The developments in the IBIT options market on February 5th reflected a similar sentiment. According to data from the market analysis platform MarketChameleon, long-term put options – a hedge against a price decline – traded at record high premiums, exceeding call Call Option . A sharp spread in put options is often a sign of extreme fear in the market.
However, Bitcoin's price showed signs of recovery today. The world's largest cryptocurrency quickly regained the $70,000 mark as soon as the clock struck midnight on February 7th (Vietnam time). Bitcoin then briefly rose to nearly $71,700, recovering approximately 19% from yesterday's Dip of $60,000. However, since midday, BTC has corrected again, currently trading around $68,000.
According to Paul Howard, director of cryptocurrency trading firm Wincent, Bitcoin has returned to price levels last seen 14 months ago. He said BTC and ETH volume have also surged to their highest levels in over two years, often signaling a short-term rebound.
