Bitcoin ETFs Plummet: $3.79 Billion Disappears as Market Fears Emerge

November witnessed a sharp decline in Bitcoin ETF activity, with investors withdrawing a staggering $3.79 billion from US-based funds. This unexpected slump follows a period of bullish optimism fueled by DeFi growth and institutional investment, now giving way to uncertainty. The market is grappling with massive liquidations triggered by leveraged positions and growing doubts about the short-term appeal of Bitcoin ETFs, as witnessed by the record outflows from BlackRock’s IBIT ETF and Fidelity’s FBTC. While recent inflows have shown some rebound, these withdrawals paint a picture of substantial loss of confidence in the market.