Bitcoin News Today: Bitcoin ETFs See $8B Outflows While Solana ETFs Draw $70M Over Five Consecutive Days
- U.S. Bitcoin ETFs faced $8.02B outflows over six days, with BlackRock's BIT losing $375.5M amid Bitcoin's $109k-to-$101k volatility. - Solana ETFs gained $70M in five days, including Bitwise BSOL's $195M inflow, as investors shift capital amid crypto market weakness. - Macroeconomic pressures and Fed hawkishness drove redemptions, but Matador locked $100M in Bitcoin for long-term accumulation. - Bitwise predicts $125k-$150k Bitcoin by year-end, though prices risk falling below $100k or $93k if support br
In the United States,
These outflows stand in sharp contrast to the inflows seen by Solana-based ETFs, which attracted $70.05 million on November 3 alone, extending a five-day streak of positive flows, according to
Analysts attribute these outflows to a mix of macroeconomic headwinds and portfolio rebalancing. The crypto fear and greed index dropped to 21, signaling "extreme fear," as investors responded to a stronger U.S. dollar and a shift toward risk aversion, according to
Despite the recent withdrawals, some bullish indicators remain. Bitwise CIO Matt Hougan projects Bitcoin could reach between $125,000 and $150,000 by the end of the year, interpreting the current wave of retail selling as a capitulation phase similar to what occurred in 2020, according to
Recent price movements point to a delicate equilibrium. Bitcoin's ability to stay above $100,000 is seen as crucial; a drop below this threshold could open the door to a decline toward $93,000, according to Coinotag's analysis. Ethereum is facing similar challenges near $3,300, with a potential fall to $2,500 if support fails. In contrast, Solana's BSOL ETF has demonstrated strength, attracting $197 million in inflows even as Bitcoin and Ethereum ETFs struggle, according to Coinotag's
The cryptocurrency sector remains highly dynamic, with regulatory changes and macroeconomic factors likely to fuel further volatility. While ETF outflows reflect a cautious stance, institutional strategies and new products such as XRP ETFs indicate that the market is evolving to meet new challenges.
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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