#加密货币现货ETF发展 An analysis of Bitcoin ETF market capital flows shows that outflows in November reached an astonishing $3.7 billion, setting a new historical high. This figure surpasses the previous record of $3.6 billion in February this year, reflecting a sharp deterioration in investor sentiment. The price of Bitcoin has plummeted more than 35% from its October high of $126,000, hitting a low of $80,000 on November 21, the lowest since April. Ethereum ETFs also experienced $1.6 billion in outflows, with the overall crypto market decline approaching levels seen during the FTX collapse. The global crypto asset market capitalization has fallen below the $3 trillion mark, and the market is in an extremely pessimistic state. Such large-scale capital outflows may indicate that market conditions are unlikely to improve in the short term, and close attention should be paid to subsequent capital flows and changes in institutional attitudes.