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Bitcoin Falls 35% From Record High Amid Record ETF Outflows

According to Forbes, US-listed Bitcoin spot ETFs saw $3.7B in November outflows, marking a record as crypto markets and Ethereum ETFs also faced sharp declines.

BTC
ETH

Summary

US-listed Bitcoin spot ETFs experienced $3.7 billion in outflows in November, surpassing the previous $3.6 billion record set in February, according to Forbes. Bitcoin’s price dropped over 35% from its $126,000 high in October to $80,000 on November 21. Ethereum ETFs also suffered over $1.6 billion in losses, contributing to the global crypto market cap falling below $3 trillion.

Terms & Concepts
  • Exchange-Traded Fund (ETF): An investment fund traded on stock exchanges that holds assets such as stocks, bonds, or cryptocurrencies.
  • Spot ETF: An exchange-traded fund that directly holds the underlying asset, in this case Bitcoin or Ethereum, rather than derivatives.
  • All-Time High: The highest price level ever reached by a financial asset or cryptocurrency.