Bitcoin ETF Outflows Reach $3.57 Billion in November, Triggering Price Drops

November saw a significant outflow of funds from Bitcoin exchange-traded funds (ETFs), reaching a whopping $3.57 billion. This withdrawal was largely driven by institutional investors pulling out approximately $2.2 billion from BlackRock’s iShares Bitcoin Trust. While Fidelity’s ETF experienced inflows during this turbulent period, the overall market sentiment took a hit. Bitcoin prices fell 31% in just two months as these shifts reshaped market dynamics.