Bitcoin experiences its worst month in nearly three years, with ETF outflows reaching a record $3.7 billion in a single month

According to ChainCatcher, citing Forbes, US-listed spot bitcoin ETFs have seen outflows reach $3.7 billion, surpassing the previous record of $3.6 billion set in February this year. As a bellwether for the crypto market, bitcoin has fallen more than 35% from its October high of $126,000, hitting a low of $80,000 on November 21, the lowest level since April.

The entire crypto market began to decline sharply in October, with the speed of the drop approaching that of the FTX collapse (2022) period. Ethereum-related ETFs also saw outflows of more than $1.6 billion in November. Last week, the total global crypto asset market capitalization fell below $3 trillion for the first time since April.