Bitcoin ETFs Witness Third Highest Outflow Since Launch, the Other Two Times Foreshadowed Price Bottoms

Since the sling of the ETFs, Thursday was the third worst day for the bitcoin-linked products. Interestingly, the other two times the ETFs saw outflows of over $400 million was on Nov. 4 ($541.1 million), decent prior to the U.S. election, and May 1 ($563.7 million). On Nov. 4, bitcoin bottomed around $67,000 before going on a tear all the way to greater than $93,000. While the May low coincide with a bottom at just under $60,000.