๐ Crypto Rollercoaster: Bitcoin Outflows vs. Altcoin Wins! ๐
What a WILD ride for crypto ETFs this week! We saw one of the largest single-day outflows since the Bitcoin ETF launch in January, with a massive $903 million leaving the market on Thursday. BlackRock's IBIT took the biggest hit, contributing to a record-breaking $3.79 billion withdrawn from Bitcoin ETFs in November so far. Ouch. ๐
But here's the twist: The market snapped back on Friday! Bitcoin ETFs pulled in $238 million in net inflows, with BlackRock's IBIT leading the turnaround.
Meanwhile, the real stars of the show are the altcoins:
* Ether funds ended their eight-day outflow streak with $55.7 million in Friday inflows, largely driven by Fidelity's FETH.
* Solana ETFs are on a 10-day inflow streak, proving institutional interest in SOL is still running hot! ๐ฅ$SOL
This week proves you can't just watch one coinโthe institutional landscape is shifting fast! Is this a 'buy the dip' signal for BTC, or are investors rebalancing into altcoins?
What do you think is next for the Bitcoin ETF market? Let me know in the comments! ๐
