Bitcoin has experienced a slight dip in its bull run, falling from $87K to an all-time high of $93,062. The primary factor behind this pullback is significant U.S. Bitcoin ETF outflows of $400 million on November 14. Bitcoin is currently trading at $87,616, down 2.46%. The 24-hour trading volume for Bitcoin has decreased by 27.15% to $86.16 billion, and its market cap has dropped by 2.45%, reaching $1.73 trillion.
Bitcoin briefly overtook Saudi Aramco, which has since reclaimed its spot at number 7. The decline in Bitcoin’s value can be attributed to selling pressure, significant institutional outflows, and a decrease in the cumulative net inflow of the U.S. spot BTC ETF market. In the Ethereum ETF market, there was a daily net outflow of $3.24 million, primarily from Grayscale (ETHE) at $3.24 million.
