Massive Bitcoin ETF outflows suggest caution as markets await Election Day outcomes.
Bitcoin price volatility rises as ETFs face record outflows, FOMC decision looms.
Election-driven market shifts could drive Bitcoin toward $90,000 or plunge to $50,000.
US spot Bitcoin ETFs saw massive outflows on November 4th, with investors withdrawing $541 million in a single day. This marks the second-largest single-day outflow since these funds launched, just behind the $563 million outflow on May 1st.
Fidelity’s FBTC fund was hit particularly hard, with $170 million in withdrawals, its second-biggest daily outflow ever. These large outflows raise concerns about investor confidence in the crypto market leading up to Election Day and other important economic events.
Major Outflows Across Bitcoin ETFs
In addition to Fidelity, other major Bitcoin ETFs also saw substantial losses. Ark Invest’s ARKB and Bitwise’s BITB had their worst single-day performances, with outflows of $138 million and $80 million, respectively. Grayscale’s BTC fund lost $89 million, while its GBTC fund had another $64 million in outflows.
Franklin Templeton, VanEck, and Valkyrie funds …
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