On Thursday, U.S.-listed bitcoin exchange-traded funds experienced their third-largest outflow since launch, with over $400 million being drained. Interestingly, each time there has been an outflow greater than $400 million, a local bottom in price has been observed, as seen on May 1 and Nov. 4. This comes as stablecoin liquidity and bitcoin transactions are on the rise, while the ETH/BTC ratio has slid to its lowest point since April. Some are questioning whether bitcoin is losing its bullish momentum.
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