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奕泽YIZZE
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$BTC Falls Below $70,000! Continued Outflows—Are Institutional Investors Changing Course?
Bitcoin’s performance over the past few days has indeed been rather lackluster.
According to a November 13 report from CoinDesk, $BTC briefly fell to $67,770, its lowest level since August 19, and dropped below $70,000 for the first time.
What’s more noteworthy is the flow of funds.
According to data from Farside Investors, as of November 13, U.S. spot Bitcoin ETFs had seen cumulative net outflows of about $1.88 billion this month. Continued institutional outflows have put some pressure on the market.
So, does this mean institutions are no longer bullish on Bitcoin?
I don’t think we can draw that conclusion just yet.
According to a November 13 report from CoinDesk, $BTC briefly fell to $67,770, its lowest level since August 19, and dropped below $70,000 for the first time.
What’s more noteworthy is the flow of funds.
According to data from Farside Investors, as of November 13, U.S. spot Bitcoin ETFs had seen cumulative net outflows of about $1.88 billion this month. Continued institutional outflows have put some pressure on the market.
So, does this mean institutions are no longer bullish on Bitcoin?
I don’t think we can draw that conclusion just yet.
