Bitcoin ETFs Just Had One of Their Worst Weeks on Record, Bleeding $1.2 Billion

Bitcoin exchange-traded funds (ETFs) experienced a significant downturn, shedding nearly $1.2 billion in assets within a week. This marks one of their worst weeks on record, bringing total outflows for November to nearly $4 billion, as investors react to Bitcoin's price drop to its lowest point since April. Notably, on Thursday alone, ETFs faced more than $900 million in outflows, the second-highest daily drop in their history. The downturn coincided with a 33% decline in Bitcoin's value from its October peak of over $126,000, driven by macroeconomic instability and concerns over an overheated AI market. Among the hardest hit was BlackRock's iShares Bitcoin Trust, which saw over $1 billion in outflows. Despite the dip, some funds like Fidelity's Bitcoin fund saw gains, demonstrating mixed investor sentiment amidst ongoing market volatility. Analysts remain hopeful for Bitcoin's recovery, citing its historical resilience against downturns.

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