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Spot ETFs Just Had Their 2nd-Worst Month Ever

November closed with –$3.48B in ETF flows — the second-weakest month on record, just above the “Tariffs Panic” low.

When ETF inflows drop this hard, it usually means one thing: fear during high volatility.

But here’s the twist — historically, weak ETF months often mark market bottoms, not tops.

This is exactly the kind of moment smart money pays close attention to.

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