Bitcoin ETFs Face Record Outflows Amidst Technical Downturn

Bitcoin exchange-traded funds (ETFs) are experiencing their worst month ever in November, with nearly $3 billion in net outflows. This dramatic decline stems from several factors including technical breakdowns in the market, waning hopes for Fed rate cuts, and increased “smart money” short positions. BlackRock’s flagship Bitcoin ETF has led the exodus, recording record-breaking daily redemptions.