📊 Bitcoin ETFs Under Fire: $77.3M Net Outflow Halts Market Euphoria

$77.34 million in net outflows from Bitcoin Spot ETFs on November 12 was a stark contrast to the market's short-term optimism.

Some were bucking this trend, however. BlackRock (IBIT) continued its buying spree, purchasing $76.7 million worth of Bitcoins and increasing its historical cumulative inflow to $62.68 billion.

Bitwise (BITB) also reported a positive inflow of $8.44 million.

It's clear that the selling pressure was primarily driven by Fidelity (FBTC), which dumped $104 million in one fell swoop, effectively neutralizing BlackRock's buying efforts for the day.

The market is currently experiencing a value dispute, with two of the largest asset managers moving in opposite directions.

This raises questions about whether Fidelity sees a short-term risk that BlackRock has overlooked or if BlackRock is seizing an opportunity to buy cheap Bitcoins from its rival.

Remember: news items should not be taken as investment advice. Always read carefully before making decisions.

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