Record $866M Bitcoin ETF Outflows as BTC Dips Below $89.6K
Bitcoin spot ETFs dem record outflows afta BTC drop below im $89,600 flow-weighted average cost basis, weh cause plenti ETF investors go into loss. From Novemba 12 to 14, combined Bitcoin ETF outflows reach $1.64 billion, include one single day high $866.7 million on Novemba 13. Top withdrawal come from BlackRock’s iShares Bitcoin Trust ($145.6 million), Fidelity Wise Origin ($12 million), ARK 21Shares ($29.7 million) and Bitwise ($9.5 million). Ethereum ETFs also see $182.7 million redemption, mainly from BlackRock’s iShares Ethereum Trust. But Solana staking ETFs no follow dis trend: Bitwise Solana Staking ETF collect $7.3 million and Grayscale Solana Trust add $0.9 million, bring total Solana ETF inflow to about $390 million since October. Analysts warn sey without clear Federal Reserve easing signal and better liquidity, ETF loss fit continue—though long-term holders fit hold through di correction. Traders dey wait for clear interest-rate and monetary policy signs.
Bearish
The record way dem dey carry comot money from Bitcoin ETFs plus beta big withdrawals for Ethereum ETFs, wey begin since BTC drop below e $89,600 average cost basis plus the wide risk-off wahala, show say bear pressure dey. For short term, people fit still dey sell as money tight and the big macro wahala still dey. But the strong Solana ETF money wey dey enter and how long-term holders believe fit help make the fall slow down later.