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Bitcoin Steadies Above $76,000
Bitcoin has stabilized above $76,000 on Saturday morning, up roughly 0.6% on the day. However, institutional money continues to move out of the market, raising concerns about a lasting recovery. The price is inching higher while institutional money keeps moving the other way, and ETF data does not offer much comfort. U.S. spot Bitcoin ETFs saw $411.9 million in net outflows on Friday, with BlackRock’s iShares Bitcoin Trust recording $403 million in redemptions. Net withdrawals for November have reached $1.28 billion through Friday, and the only positive flow this month was on Wednesday.