Bitcoin News Today: Bitcoin ETFs Offload $2.96 Billion in November, Exceeding Mt. Gox Repayment Amounts
- Bitcoin ETFs sold $2.96B in November, exceeding Mt. Gox's $953M debt repayment transfers, signaling extreme bearish sentiment. - BlackRock's IBIT led outflows with $2.1B, including a $523M single-day withdrawal, as BTC prices fell 28% below $90,000. - Market analysts warn ETF redemptions could accelerate Bitcoin's decline, citing technical indicators like the "death cross" and weak institutional sentiment. - The sell-off contrasts Bitcoin's historical November rallies, driven by macroeconomic fears and A
In November, Bitcoin ETFs have offloaded more
At the same time, Mt. Gox, the defunct Japanese exchange, has transferred $953 million in Bitcoin after being inactive for eight months, sparking speculation about its plans to repay creditors. On March 25, 2025, the company moved 893
BlackRock’s recent moves have added to market anxiety. The firm shifted 4,880 BTC and 54,730 ETH—worth $642 million—to Coinbase Prime in late November, with analysts viewing these transfers as possible signals of impending sales. Unlike previous years when ETF inflows boosted Bitcoin’s price,
The ETF sell-off stands in stark contrast to Bitcoin’s usual November performance, which has historically seen an average gain of 41.22% for the month. Analysts
Experts caution that ongoing ETF withdrawals could further accelerate Bitcoin’s downward trend. “
As the market contends with these shifts, the interaction between ETF redemptions and Mt. Gox’s repayment plans underscores the vulnerability of Bitcoin’s ecosystem. With November emerging as one of the most turbulent months in recent memory, investors remain cautious, closely monitoring for any signs of stabilization or further decline.
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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