Bitcoin News Today: Bitcoin's November Exodus: Record ETF Outflows Clash with Historical Rally Season

Bitcoin Faces Uncertainty as Large Investors Shift Strategy

Bitcoin exchange-traded funds (ETFs) are experiencing a significant exodus of capital, with net outflows approaching $3 billion for November-the worst month yet for the asset class. BlackRock's iShares Bitcoin Trust (IBIT) led the decline, recording a record $523 million in outflows on a single day, according to Farside Investors. The fund alone accounted for $2.1 billion of November's total outflows, pushing the month on track to surpass February's $3.56 billion in redemptions. This trend has raised alarms despite historical data suggesting November is typically one of Bitcoin's strongest months, with an average 41.22% price rally.

The sell-off coincides with growing concerns among institutional investors, including Michael Saylor's Strategy Inc., which recently saw 40% of its Bitcoin holdings turn unprofitable. The firm, now holding 649,870 BTC valued at $59.38 billion, purchased an additional 8,178 BTC at an average price of $102,171 per coin in November. However, Bitcoin's 15% decline since then has left those recent acquisitions underwater by $88 million. Analysts note that while Strategy's long-term position remains in the black, the short-term losses highlight the fragility of Bitcoin's valuation amid macroeconomic uncertainty.