From Startup Fortune · · 1m 10s
Bitcoin Plunges as ETF Outflows Hit Record
Bitcoin drops to $106,000 as $3.79 billion in ETF outflows and whale sales erase 32% of value.
In brief
Bitcoin drops to $106,000 as $3.79 billion in ETF outflows and whale sales erase 32% of value. Bitcoin fell to $106,000 after $3.79 billion in spot ETF outflows and a $1.3 billion whale sale wiped out 32% of its value since October. Originally reported by Startup Fortune.
Bitcoin Tumbles
Bitcoin dropped to $106,000 on November 3 after wiping out 32% of its value since October's all-time high.
Record ETF Outflows
Spot bitcoin ETFs logged $3.79 billion in outflows in November, the worst monthly total since funds launched in January 2024.
Whale Liquidates $1.3 Billion
Owen Gunden sold 11,000 BTC worth $1.3 billion, completing his exit over 21 days starting October 21.
Crypto Market Capitalisation Falls
Total crypto market cap dropped from $4.28 trillion to near $3.27 trillion, a six-month low.
Ethereum Plummets 7%
Ethereum fell nearly 7% to $3,610, its steepest one-day drop since August.
Bull Score Drops to 20
CryptoQuant's Bull Score fell to 20 out of 100 after months of selling by large holders.
AI Selloff Pressures Bitcoin
Bitcoin follows Wall Street's AI-driven selloff as risk assets fall together, with no sign of reversal.
What to remember
Bitcoin fell to $106,000 after $3.79 billion in spot ETF outflows and a $1.3 billion whale sale wiped out 32% of its value since October.
