US-based Bitcoin ETFs experienced a record-breaking outflow of $3.79 billion in November, reaching a new high and signaling a dramatic shift in investor sentiment. This significant decline in assets under management (AUM) reflects a concerning trend for the crypto market. 12 major US-listed Bitcoin ETFs, including those managed by BlackRock, Grayscale, and Fidelity, saw over $58 billion evaporate from their peak of $168 billion since the start of the year. This marked a 35% decline in just over two months. As a result, Bitcoin’s price dropped from its recent all-time high to $91,500, exacerbating the losses. While this trend is linked to investor redemptions and no selling by ETF sponsors like BlackRock or Grayscale, it highlights a significant liquidity crunch in the market, with investors choosing to liquidate their holdings rather than hold onto them at lower prices. The cause of this sudden decrease is likely due to macro factors such as the US government shutdown that has led to uncertainty and reduced investor confidence. This outflow trend isn’t isolated; Ethereum ETFs also mirrored a similar pattern in outflows, adding fuel to a broader market correction. It is crucial to observe how Bitcoin news will unfold following these significant outflows. Will inflows finally return or will Bitcoin continue its consolidation below $90,000?