Are institutions getting out of Bitcoin? 🏦
U.S. spot Bitcoin ETFs saw net outflows of around $1.28 billion between November 2 and 6—the biggest weekly outflow since June.
The largest share came from BlackRock’s IBIT fund, at around $1.21 billion.
Over the last two days of the week: around $430 million was withdrawn on November 5, and $412 million on November 6.
Why does this matter for $BTC ? Because these funds have become one of the biggest sources of demand. When money flows out of them, price support weakens.
But let’s not forget: things could turn around quickly if the economic outlook improves.
Not financial advice.
Do you think this is temporary fear or the start of a bigger exodus?
#BinanceSquare #BitcoinETF #Bitcoin
U.S. spot Bitcoin ETFs saw net outflows of around $1.28 billion between November 2 and 6—the biggest weekly outflow since June.
The largest share came from BlackRock’s IBIT fund, at around $1.21 billion.
Over the last two days of the week: around $430 million was withdrawn on November 5, and $412 million on November 6.
Why does this matter for $BTC ? Because these funds have become one of the biggest sources of demand. When money flows out of them, price support weakens.
But let’s not forget: things could turn around quickly if the economic outlook improves.
Not financial advice.
Do you think this is temporary fear or the start of a bigger exodus?
#BinanceSquare #BitcoinETF #Bitcoin
