Thursday marked the third worst day for bitcoin-linked products since the launch of ETFs. Surprisingly, the other two instances where the ETFs saw outflows of over $400 million occurred on Nov. 4 ($541.1 million), just before the U.S. election, and May 1 ($563.7 million). Bitcoin hit a bottom around $67,000 on Nov. 4 before skyrocketing to over $93,000. Similarly, the May low coincided with a bottom just below $60,000.
This recent data highlights the volatility and fluctuations in the market for bitcoin ETFs. Investors should closely monitor these trends and stay informed to make educated decisions when investing in cryptocurrency.
