Key facts: Bitcoin ETF outflows hit $1.44 billion; dollar firms
Stronger US inflation and rising December rate-hike expectations supported the dollar, pressuring BTCUSD. US spot Bitcoin ETFs saw net outflows through Thursday, turning year-to-date flows negative.Bitcoin selling may reflect funds shifting toward Anthropic’s pending IPO, risk aversion, rising Treasury yields, a stronger dollar, crypto leverage and ETF outflows.- Bitcoin vs US Dollar, Spot CFD (BTCUSD) saw five-session net outflows through November 11 totaling about $1.44 billion, with fund withdrawals occurring before Friday’s price break.BTCUSD was 41% below its record after more than 400 days, versus 74%–81% declines at similar points in past downturns. BlackRock’s Bitcoin fund saw nine straight days of outflows, with ETFs selling.Analyst Benjamin Cowen says Bitcoin’s decline may last weeks, potentially through the December Fed meeting. He sees the realized price near $54,000 as a key level for gauging a possible low.- Strategy bought 1,036 Bitcoin for $81.9 million during the week ended Nov. 6, paying an average of $79,012 per token. Following the purchase, the firm’s total holdings reached 850,364 Bitcoin.Bitcoin spot demand weakened as miner-to-exchange flows rose about 16-fold to 2,077 BTC. Nearly all came from Antpool on Nov. 10; the spike alone did not show broad miner selling.Dragonfly Capital’s Haseeb Qureshi said BTCUSD is unlikely to hit $1 million by 2030, citing the capital required. He sees $300,000–$400,000 as possible.This is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original sources.