Bitcoin News Update: Bitcoin Drops 30% Amid ETF Withdrawals and Broader Economic Challenges
- Bitcoin fell nearly 30% from its October peak to $85,100 amid massive ETF outflows and macroeconomic pressures, with U.S. spot Bitcoin ETFs losing $3.79 billion in November alone. - BlackRock's iShares Bitcoin Trust (IBIT) led redemptions at $2.1 billion, while a stronger dollar and Fed policy uncertainty worsened selling pressure in risk-off markets. - Technical indicators show oversold conditions (RSI: 25.47), yet ARK Invest added $39 million to crypto-linked stocks, maintaining a long-term bullish sta
Bitcoin has experienced a deepening downturn, marking its fourth straight week of losses as traders contend with challenging macroeconomic factors and changing market mood. The value of
This downward trend has been worsened by a broader move away from risk, as the U.S. dollar gains strength and uncertainty around Federal Reserve policy continues to weigh on riskier investments.
Market confidence remains shaky, with platforms like Reddit showing increased caution among users.
Looking forward, Bitcoin’s trajectory will depend on greater economic clarity and ETF fund flows.
At present, the market is still correcting, with many participants choosing to wait for clearer signals. As one trader put it, “The excitement from earlier this year has completely faded,” and
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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