Bitcoin Tumbles to Six-Month Low Amid Significant ETF Outflows
In the early hours of November 14, Bitcoin (BTC) experienced a sharp decline, tumbling to a six-month low of $95,919. This marked its lowest price point in recent months and raised concerns among investors and market watchers.
The sudden drop appears to have been triggered by a substantial net outflow of $870 million from spot Bitcoin ETFs on the preceding day. This large-scale withdrawal from ETFs likely put additional downward pressure on the cryptocurrency’s price.
Market Impact and Liquidations
The $870 million net outflow from spot BTC ETFs contributed significantly to increased market volatility. As Bitcoin’s price fell, numerous liquidations occurred, further exacerbating the sell-off. Traders and investors should closely monitor these dynamics as they navigate the evolving cryptocurrency landscape.
https://news.bitcoin.com/bitcoin-dips-below-96k-analyst-says-drop-validates-correction-eyes-94k-before-pivot/