Cryptocurrencies Lag Behind Nasdaq Rally Amid Significant ETF Outflows
On November 9, the cryptocurrency market showed significant weakness, failing to follow the broader recovery seen on Wall Street. While the Nasdaq Composite surged nearly 3%, major digital assets like Bitcoin and Ethereum remained largely stagnant, with Bitcoin struggling to maintain levels above $75,000. The divergence is driven heavily by a lack of institutional demand, evidenced by approximately $1.28 billion in net outflows from U.S. spot Bitcoin ETFs last week—the largest weekly withdrawal since June. Combined outflows for Bitcoin and Ethereum ETFs reached roughly $1.65 billion, placing downward pressure on crypto-linked investments even as technology stocks rebounded.
Tickers: $BTC $ETH $ETHA $FBTC $IBIT $SOL
Topics: Bitcoin cryptocurrency ETF outflows Ethereum market volatility
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