Yigit Taha OZTURK 
US-based spot Bitcoin ETFs attracted a massive $6.4 billion inflow in November, driven by Bitcoin’s historic 45% price rally, which saw it break past the $99,000 mark for the first time ever.
During this month-long bull run, BTC prices surged from around $68,000 to $99,000, sparking bullish sentiment across the market. Spot Bitcoin ETFs collectively drew $6.87 billion, offset slightly by $411 million in outflows.
The standout performer was BlackRock’s iShares Bitcoin Trust ETF (IBIT), which secured $5.6 billion in November, accounting for roughly 87% of the total inflows. Other notable ETFs included Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $962 million, Grayscale’s Bitcoin Mini Trust ETF (BTC) with $211.5 million, and VanEck Bitcoin ETF (HODL), which attracted $71.2 million.
Bull Run and Investor Confidence
Institutional and private investors continued pouring funds into the market, even as BTC prices soared, fueling the ongoing bull run. Analysts and traders expect “massive long opportunities” as Bitcoin enters a price discovery phase.
On the other hand, some ETFs experienced outflows. Grayscale Bitcoin Trust ETF (GBTC) saw $364 million in withdrawals, while Bitwise Bitcoin ETF (BITB) and Valkyrie Bitcoin Fund (BRRR) recorded $40.4 million and $6.8 million, respectively.
Investor Sentiment Remains Bullish
The Crypto Fear & Greed Index showed strong bullish sentiment in November. It peaked on November 22, reaching an annual high of 92, indicating “extreme greed.” As December began, the index dipped slightly but continued to reflect positive market sentiment.
Bitcoin entered December trading sideways around the $96,000 mark, maintaining the bullish tone. Experts suggest tools like the Fear & Greed Index are invaluable for building effective investment strategies during such market conditions.
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