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Record $1.26B Outflow Hits BlackRock Bitcoin ETF as Bearish Options Cost Soars

BlackRock's Bitcoin ETF, IBIT, has encountered a monumental net outflow of $1.26 billion in November, marking the most significant withdrawal since its inception in January 2024. This outflow comes amidst a price decline of 16%, bringing the share price down to $52, a level not seen since April. The surge in put options prices, which are utilized to hedge against potential further declines, reflects traders' sentiments, with the 250-day put-call skew climbing to a seven-month high of 3.1%. This scenario exemplifies broader market struggles, as a total of 11 spot Bitcoin ETFs face collective withdrawals amounting to $2.59 billion. The increasing demand for protective put options indicates growing investor anxiety about the market's direction in the wake of significant redemptions.

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Crypto Markets Today: Fear Grips Market as BTC Price Tests Support, Altcoins Weaken

Bitcoin hovered near $91,000 with the Fear & Greed Index dropping to 15/100, its lowest since April. The market is experiencing extreme fear, prompting a potential test of the $87,500 support level. More than $1 billion in leveraged futures positions were liquidated, with bulls being crowded out.

Crypto Markets Today: Fear Grips Market as BTC Price Tests Support, Altcoins Weaken

Bitcoin hovered near $91,000 as market sentiment plummeted to 'extreme fear', evident through a Fear & Greed Index score of 15/100, marking the lowest point since April. This comes as BTC tests crucial support around $87,500, generating speculation about a potential bounce backed by historical

Crypto Markets Today: Fear Grips Market as BTC Tests Support, Altcoins Weaken

Bitcoin hovers near $91,400 amid extreme fear in the market, evidenced by a Fear & Greed Index score of 15/100, its lowest since April. With over $1 billion in leveraged futures positions liquidated in the past 24 hours, traders are on edge as volatility peaks. Despite some historical

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