US spot Bitcoin ETF investors saw a significant dip in value yesterday as the market approaches a new wave of crypto ETF launches. Bloomberg estimates show an average cost basis near $89,600 for these investments, with Bitcoin briefly trading below that level before recovering above $91,000 early Tuesday. This comes just as issuers prepare for a fresh round of crypto ETFs, including those tied to Dogecoin, Solana, and XRP. Investors withdrew an average of $2.8 billion from spot Bitcoin ETFs in November alone, marking four consecutive days of net outflows. BlackRock’s IBIT witnessed the largest withdrawal on Nov. 13, with a staggering $866.7 million exiting the investment products in a single day. This trend continued in recent trading sessions, with daily outflows reaching $254.6 million, primarily driven by BlackRock’s IBIT, which saw over $145.6 million in withdrawals on that particular day. Meanwhile, the market awaits multiple new crypto ETFs focused on altcoins like Dogecoin, Solana, and XRP, along with potential launches of four additional XRP ETFs within the next week. The US government shutdown has ended, allowing ETF issuers to focus their efforts on product launches. The market could see a significant boost from this upcoming wave of altcoin ETFs. However, Bitcoin’s recent price decline coincides with increased investor withdrawals from spot Bitcoin ETFs. Despite this drop, long-term investors known as “diamond-hand” investors are actively buying up supply during this dip. CryptoQuant’s on-chain analysis indicates a surge in permanent holder purchases, with the number of BTC acquired by these investors surging from 159,000 BTC to 345,000 BTC since October 6th, representing the highest accumulation seen recently. “Long-term capital is stepping in aggressively, while short-term sentiment is capitulating,” CryptoQuant’s analysis concluded. This dynamic often leads to either a meaningful rally or a final descent. One outcome is guaranteed: this situation will likely resolve with considerable force.