Bitcoin Updates: As Investors Pull Out of Bitcoin ETFs, Altcoins See Increased Inflows During November Sell-Off
- U.S. bitcoin ETFs lost $1.22B in net outflows for the week ending Nov 21, extending a four-week negative streak with total November redemptions reaching $3.79B. - Bitcoin fell below $82,000 amid a 7-month low, triggering a $350B crypto market cap drop as Citi noted 3.4% price declines per $1B ETF outflow. - Solana and XRP ETFs bucked the trend with $300M and $410M inflows, attracting institutional interest despite broader market weakness. - Analysts warn of potential 50% further Bitcoin declines, while F
Bitcoin ETFs See $1.22 Billion Pulled in Fourth Straight Week of Outflows During Market Downturn
U.S. spot
This November selloff marked the poorest monthly showing for U.S. bitcoin ETFs since their launch in January 2024. Redemptions for the month hit $3.79 billion,
The selloff accelerated as
While bitcoin ETFs faced challenges, newly introduced
The ETF-driven selloff also affected corporate Bitcoin reserves.
Despite the ongoing outflows, some in the market anticipate a possible recovery. On November 21,
The outlook for Bitcoin's recovery is still unclear.
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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