Core Insights - Spot Bitcoin exchange-traded funds (ETFs) experienced significant outflows, losing nearly $1.2 billion in assets, marking the third-largest weekly outflow since their inception 22 months ago [1][8] - November's outflows reached $3.79 billion by Thursday, matching the previous monthly record set in February [3] - The pressure on Bitcoin ETFs continued despite a partial market recovery, with over $900 million in redemptions on Thursday alone, the second-largest single-day exit for the category [4] Market Performance - Bitcoin's price has declined approximately 33% from its October peak above $126,000, influenced by changing macroeconomic expectations and concerns over high valuations in the artificial intelligence sector [5] - The largest outflow was from BlackRock's iShares Bitcoin Trust (IBIT), which saw over $1 billion withdrawn, followed by Grayscale's GBTC and Fidelity's FBTC with outflows of $172 million and $116 million, respectively [5] Recent Developments - On Friday, Fidelity's FBTC recorded a strong inflow of $108 million, while Grayscale's Bitcoin Mini Trust (BTC) and GBTC also saw inflows of $61.5 million and $84.9 million, respectively [6] - Analysts, including Bloomberg's Eric Balchunas, remain optimistic about Bitcoin's resilience, citing its historical ability to recover from significant drawdowns [6][7] - The current turbulence in Bitcoin funds coincides with the introduction of new altcoin ETFs, which are gaining attention in the market [7]

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