As per Odaily, U.S.-listed Bitcoin ETFs saw a total outflow of $3.5 billion in November, nearing the monthly outflow record of $3.6 billion set in February 2024. BlackRock's IBIT fund accounted for $2.2 billion of the redemptions, or 60%, potentially marking its worst monthly performance since launch. The outflows intensified downward pressure on Bitcoin, which fell to $80,553. Citi Research estimates that every $1 billion in redemptions could drag down the spot price by approximately 3.4%.
Bitcoin ETF Redemptions Near Record High, Price Drops to $80,553
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