Bitcoin Spot ETF Money Wey Dey Comot Reach $4.34B Amid Four-Week Fall
Bitcoin Spot ETF outflows don still dey for four weeks straight, wit net withdrawals of $1.22 billion for the period wey end on November 21, make November total reach $4.34 billion. BlackRock’s IBIT fund na the one wey lead the withdrawals wit $1.09 billion comot, including one day exit of $523 million as BTC fall from $95,600 to $82,200. Bitcoin don recover small to around $87,300 but e still dey gidigan for fragile range of $85,000–$90,000. Ethereum spot ETFs see third week of outflows be like $502 million, but Solana and XRP ETFs dey contrary with inflows of $128 million and $180 million respectively. These patterns show say institutional fear still dey high and dem market liquidity dey under pressure.
Bearish
Bitcoin Spot ETF dey experience outflows for four weeks straight, especially from BlackRock’s IBIT withdrawals, plus BTC wey drop reach $82,200, all these show say selling pressure dey continue and liquidity don reduce. Even though e don bounce back to about $87,300, the narrow trading range of $85,000–$90,000 plus persistent institutional redemptions indicate say bullish momentum weak. This steady risk aversion and limited price movement suggest bearish sentiment both short term and medium term.