As a seasoned crypto investor with a decade of experience under my belt, I can confidently say that November 2021 was undoubtedly one for the books. The Bitcoin (BTC) market price soaring to new heights and the massive influx of investments into spot BTC ETFs were reminiscent of the crypto gold rush of 2017.
In November, U.S. investors invested more than $6.4 billion into Bitcoin spot Exchange-Traded Funds (ETFs), with the Bitcoin market value surging by 45%, reaching an unprecedented high of over $99,000 for the first time ever.
In November, a sustained period of Bitcoin (BTC) price increase—reaching as high as $99,000 from an initial $68,000—was observed, marking a significant surge. Simultaneously, exchange-traded funds focused on Bitcoin accumulated approximately $6.87 billion amid optimistic market predictions. However, during the month, there were outflows totaling $411 million from these ETFs.
Based on figures from Farside Investors, it’s clear that the BlackRock iShares Bitcoin Trust ETF (IBIT) attracted a massive $5.6 billion in investments last November alone. This staggering amount accounted for an impressive 87% of all monthly inflows during that period.
Investors showcase confidence in Bitcoin price
Notable entities receiving substantial investments are Fidelity’s Wise Origin Bitcoin Fund (FBTC) with a total of $962 million, Grayscale’s Bitcoin Mini Trust ETF (BTC) amounting to $211.5 million, and the VanEck Bitcoin ETF (HODL), which received investments worth $71.2 million.
The persistent flow of capital from financial institutions and individual investors, fueled by escalating Bitcoin market values, is forecast to sustain the current upward trend, also known as a bull run. Industry experts and analysts anticipate exceptional long-term investment prospects for Bitcoin in the near future, implying that Bitcoin has now entered a phase where its price is being explored or discovered.
Conversely, it was these three entities – the Grayscale Bitcoin Trust ETF, Bitwise Bitcoin ETF, and Valkyrie Bitcoin Fund – that were responsible for a total outflow of approximately $411 million last month. Specifically, the Grayscale Bitcoin Trust ETF accounted for an outflow of about $364 million, followed by the Bitwise Bitcoin ETF with an outflow of around $40.4 million, and finally, the Valkyrie Bitcoin Fund contributed to an outflow of approximately $6.8 million.
As a researcher, I found that in November, my analysis of the Crypto Fear & Greed Index, which gauges investor sentiment, pointed towards a robustly optimistic outlook for the crypto market.
Bullish investment sentiment across November
On November 22nd, the Crypto Fear & Greed Index peaked at a yearly record of 92, indicating that cryptocurrency investors are generally very optimistic.
As we move into December, the index score took a slight dip, yet it still conveys an overwhelmingly optimistic outlook. According to CryptoMoon Markets Pro and TradingView, Bitcoin shifted its trajectory, stabilizing around the $96,000 mark during this month.
To gain a better understanding of using the Crypto Fear & Greed Index for creating profitable crypto investment plans, take a look at CryptoMoon’s tutorial.
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2024-12-02 12:00