BITCOIN ETFS LOSE $3.5B IN NOVEMBER; IS THE MARKET BRACING FOR MORE BTC DOWNSIDE?
According to SoSoValue data, the 12 spot Bitcoin ETFs have seen $22.45 million in net outflows so far this week, following three straight weeks of outflows exceeding $1.1 billion each. This brings total November outflows to $3.57 billion, a sharp reversal from the strong gains recorded in the previous two months, when inflows reached $3.53 billion in September and $3.42 billion in October.
Institutional investors are taking a cautious approach amid mounting macroeconomic concerns, including U.S. tariffs on major economies like China, fading hopes for another Federal Reserve rate cut in December, and a stronger U.S. dollar.
At the time of reporting, the Fear and Greed Index stood at 15, indicating Extreme Fear—a level it has maintained since mid-November. During such periods, investors often reduce risk exposure, while broader sentiment indicators point to waning confidence across crypto markets.
Some investors are also turning their focus to newer crypto ETF products, including Solana, XRP, Dogecoin, Litecoin, and Hedera, as diversification becomes an increasingly important theme in the digital asset space.
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The heavy outflows in November have contributed significantly to Bitcoin’s ongoing downtrend this year. The flagship cryptocurrency has fallen from $110,000 at the start of the month to below $87,000 at the time of reporting, remaining 31% below its all-time high in October.
Unless the macroeconomic environment improves and Bitcoin resumes its upward momentum, spot Bitcoin ETFs could continue to face outflows in the coming sessions.
Could Bitcoin See More Losses in December?
Technical indicators suggest that Bitcoin may continue to face downward pressure as December approaches—a month historically associated with heightened volatility and mixed performance.
On the daily chart, Bitcoin has formed a death cross, a bearish signal that occurs when the 50-day moving average crosses below the 200-day moving average. Such patterns often weigh on market sentiment and could trigger further short-term selling pressure.
At the time of reporting, Bitcoin was testing the $86,777 level, which corresponds to the 23.6% Fibonacci retracement.
If BTC holds above this level—previously a key resistance zone earlier this year—it could turn it into support and potentially push the price toward the $94,000–$95,000 range, near the next Fibonacci retracement level.
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Conversely, a drop below $86,000 could trigger a deeper correction, with Bitcoin possibly retracing toward its April low of $74,550.
FAQs
1. How much have Bitcoin ETFs lost in November?
Bitcoin ETFs have seen $3.57 billion in outflows in November, reversing the strong gains recorded in September and October.
2. Why are investors pulling out of Bitcoin ETFs?
Institutional investors are cautious due to U.S. tariffs on major economies, fading hopes of a Fed rate cut, and a stronger U.S. dollar.
3. What impact have the outflows had on Bitcoin’s price?
Heavy ETF outflows contributed to Bitcoin’s decline from $110,000 at the start of November to under $87,000, 31% below its all-time high.
4. What do technical indicators suggest for Bitcoin in December?
A death cross on the daily chart signals bearish momentum, suggesting short-term selling pressure may continue as December approaches.
5. What are the key support and resistance levels for BTC?
Bitcoin is testing $86,777, the 23.6% Fibonacci level. Holding this could lead to a rebound toward $94,000–$95,000, while a drop below $86,000 may trigger a correction toward $74,550.
