Bitcoin is heading into one of its harshest months in years as US-listed Bitcoin ETFs log a record $3.7 billion in outflows for November, according to SoSoValue data. The pullback marks the largest monthly withdrawal since Bitcoin ETFs launched, and it comes at a time when the broader crypto market is struggling to regain direction.
The price slide has been equally severe. Bitcoin has fallen more than 35% since reaching its all-time high of $126,000 in October, dropping to $80,542 on November 21—its lowest point since April. Total crypto market value also dipped below $3 trillion last week, a level not seen since early spring. Ethereum ETFs saw similar pressure, losing $1.6 billion in November alone.
These moves echo the sharp declines seen during the 2022 market crisis following the collapse of FTX, with sentiment turning decisively risk-off across major exchanges.
Key takeaways:
Bitcoin ETFs saw a record $3.7bn monthly outflow Bitcoin dropped from $126K to $80.5K in four weeks Crypto market cap fell below $3tn Ethereum ETFs lost $1.6bn in NovemberMarket Sentiment Remains Fragile
Bitcoin is currently trading near $86,948, down 0.46% in the past 24 hours. Its market cap remains above $1.73 trillion, but confidence is notably weaker amid sharply lower institutional flows.
ETF outflows signal a shift in investor behavior: fast-moving funds that poured in earlier this year are now rotating out, suggesting concerns about short-term liquidity, macroeconomic uncertainty, and overextended valuations. Meanwhile, traders remain cautious as BTC struggles to hold support levels that previously fueled rallies.
Bitcoin (BTC/USD) Technical Outlook: Is Bitcoin Nearing a Turning Point?
Bitcoin price prediction remains bearish as BTC is attempting to stabilize above $86,900, but the technical structure still reflects a deep corrective phase. Price remains locked in a descending channel, with every rebound capped by the upper trendline since the rejection at $123,984. The recent bounce from $80,542 aligns with the lower channel boundary and the 0% Fibonacci retracement—an area where buyers historically step in.
Bitcoin Price Chart – Source: TradingviewMomentum shows early improvement, with the RSI lifting from oversold territory and hinting at mild bullish divergence. Daily candles have shifted to spinning tops and smaller bodies, signaling seller fatigue. A bullish engulfing pattern could form if BTC closes decisively above $88,000, the 0.236 Fibonacci retracement level.
A stronger trend shift requires a break above $90,798 (0.382 Fib). That would lift BTC above the channel’s midline and the 20-EMA, opening upside targets at $93,966 and $97,135. A clean breakout above $97,000 would signal the first meaningful recovery since October.
Bitcoin (BTC/USD) Trade Setup and Price Projection
A long opportunity forms only if BTC closes above $90,800 with strong volume. Targets sit at $93,900–$97,000, with stops below $86,800. If BTC reclaims the 0.618 Fibonacci zone, the next medium-term target stretches toward $102,255, where multi-month resistance awaits.
With volatility cooling and momentum gradually improving, Bitcoin may be preparing for a broader trend reversal—just as attention shifts toward upcoming presale opportunities.
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The post Bitcoin Price Prediction: ETFs Just Lost $3.7 Billion – Is This the Start of a Full-Blown Crypto Collapse? appeared first on Cryptonews.
