Bitcoin faces its worst January in nearly three years, with ETF outflows reaching a record $3.7 billion in a single month

According to Forbes, the outflow of funds from U.S.-listed Bitcoin spot ETFs has reached $3.7 billion, surpassing the previous record of $3.6 billion set in February of this year. Bitcoin, as a barometer of the crypto market, has fallen over 35% from its peak of $126,000 on October 12, hitting a low of $80,000 on November 21, the lowest level since April.

The entire crypto market began to decline significantly in October, with the speed of the drop approaching that of the FTX collapse (2022). Ethereum-related ETFs also saw outflows of over $1.6 billion in November. Last week, the total market capitalization of global crypto assets fell below $3 trillion for the first time since April.