Spot Bitcoin (BTC) exchange-traded funds (ETFs) saw their fourth-best week of inflows, attracting $2.42 billion, while China-based ETFs experienced their largest weekly outflows in history, exceeding $2 billion. These trends underscore Bitcoin’s growing appeal amid concerns over China’s economic slowdown.
Bitcoin ETF Inflows Surge
During the trading week of November 18–22, U.S.-based Bitcoin ETFs recorded cumulative inflows of $2.42 billion, marking their fourth-largest weekly gain since their debut in January, according to Dune data. The surge comes as Bitcoin (BTC) continues its post-election rally, with the cryptocurrency breaching $99,000 for the first time.
The inflows follow heightened optimism after President-elect Donald Trump’s victory, which catalyzed a 40% rally in Bitcoin’s price this month.
China ETFs See Historic Outflows
Conversely, China-based ETFs saw record outflows of over $2 billion during the same period. The iShares China Large-Cap ETF (FXI), the largest China ETF, recorded $984 million in withdrawals, its fifth consecutive week of outflows.
Despite China's government deploying economic stimulus measures, consumer confidence has plummeted, with the China Consumer Confidence Index down approximately 50 points over the last three years, according to The Kobeissi Letter.
“Even as hundreds of billions of dollars in stimulus have begun, Chinese consumer sentiment remains terrible,” said The Kobeissi Letter.
Bitcoin’s Record Month and All-Time High
Bitcoin's (BTC) price reached a new all-time high of $99,800 on Nov. 22, rising 9.5% during the week. On the monthly chart, Bitcoin surged 48%, outperforming the FXI, which declined over 7%, per TradingView data.
Stablecoin flows to exchanges also hit a record $9.7 billion in November, fueling expectations of Bitcoin (BTC) surpassing the $100,000 mark. However, market experts remain cautious. Kris Marszalek, CEO of Crypto.com, warned that market deleveraging might be necessary before Bitcoin can breach this significant milestone, according to Cointelegraph.
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