Bitcoin ETF outflows totaling over $3.7 billion in November are attributed to profit-taking by long-term holders and leveraged positions exiting the market. Bitfinex analysts clarify the outflows are not indicative of institutional abandonment of BTC but rather tactical rebalancing. The uncertainty of a December interest rate cut has also contributed to the market panic. BlackRock’s iShares Bitcoin Trust ETF leads with $2.47 billion in redemptions. Single-day outflows surpassed $900 million, with the average ETF investor now underwater after Bitcoin’s drop below $90,000. Despite the panic, ETF investors are likely to hold onto their positions, as they are typically long-term holders. The majority of selling is believed to come from long-term Bitcoin holders and original investors.

Read more at Cointelegraph: ETF Outflows Reflect Short-Term Downturn, Not Weak BTC Demand: Analysts