Blackrock’s bitcoin exchange-traded fund is experiencing its worst month ever, with $2.2 billion in outflows. Bitcoin’s price has dropped over 20% in the past month, making it the worst month since June 2022. Investors are rotating into gold amid economic uncertainties, with the Federal Reserve potentially slashing rates in December.

The drop in bitcoin’s price is causing investors in spot bitcoin ETFs to feel pressure to sell shares. Newer entrants may be more flighty during volatile times, while long-term institutional investors could help stabilize the market. The uncertainty in the macro environment is leading investors to de-risk across assets, impacting bitcoin’s volatility.

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