Bitcoin News Today: November Sees Unprecedented Bitcoin Withdrawals from ETFs Despite 41% Traditional Rally Pattern
- BlackRock's IBIT led November's record $2.47B ETF outflows, accounting for 63% of total Bitcoin fund redemptions amid falling prices. - Bitcoin dropped 27% from October highs as macroeconomic uncertainty and profit-taking drove $3.79B in monthly ETF withdrawals. - November's $3.79B outflows shattered February's record, defying historical 41% rally trends as institutional investors shifted to equities. - Analysts warn of prolonged downturn risks after BTC broke below 50-week averages, with bearish bets ri
BlackRock's
The iShares Bitcoin Trust was the primary driver of these withdrawals, making up 63% of the total, or $2.47 billion, as investors exited the fund en masse. IBIT saw
This wave of outflows coincided with a steep drop in Bitcoin's price, which
"November has turned out to be the weakest period for ETF flows, even though the month usually sees a Bitcoin rally,"
This selloff stands in contrast to Bitcoin's typical November trend,
The recent correction in Bitcoin's price has also raised questions about the strength of the ongoing bull market.
The historic outflows highlight fragile market confidence,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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