Bitcoin ETFs Plummet: Investor Concerns Fuel Sell-Off Amidst Price Decline

Bitcoin exchange-traded funds (ETFs) experienced significant outflows on November 3rd, reflecting waning investor confidence as the price of Bitcoin dropped sharply. The data reveals that all Bitcoin ETFs recorded net outflows totaling $186.5 million that day, with BlackRock’s IBIT ETF being responsible for the withdrawals. This marks the fourth consecutive trading day of capital exit from these funds, totaling over $1.34 billion since late October. 336,000 traders liquidated their positions worth $1.36 billion within 24 hours, intensifying the sell-off pressure.