Bitcoin Updates: Economic Uncertainty and Federal Reserve Indecision Trigger Massive Bitcoin ETF Withdrawals
- Bitcoin fell below $100,000 in November, triggering $870M in ETF outflows as investors dumped holdings amid macroeconomic uncertainty. - BlackRock's IBIT led with $257M in single-day redemptions, while Ethereum ETFs saw $259.7M in withdrawals, reflecting broader market selloff. - Fed rate hesitation, SOFR decline, and government shutdown risks intensified caution, with $920M in crypto liquidations and $3.36T market cap drop. - Analysts cite fading institutional demand and waning retail participation, as
In early November, Bitcoin's value dropped below $100,000, sparking a surge in withdrawals from U.S. spot
BlackRock’s ETF redemptions are part of a wider selloff across the market.
Experts point to reduced institutional interest and minimal retail involvement as reasons for the outflows. Hedge funds have raised their crypto allocations to 55% from 47% in 2024, but
Technical analysis suggests Bitcoin remains under pressure, with prices testing support around $92,000 to fill a CME futures gap.
Changes in regulations and policy could be crucial for the market’s next direction.
At present, Bitcoin is at a pivotal point. A recovery may depend on changes in Federal Reserve policy, resolution of the government shutdown, or renewed institutional interest. Yet, with ETFs continuing to lose assets and economic headwinds persisting, the outlook for a rebound remains unclear.
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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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