30s Summary

Bitcoin ETFs in the US experienced their fourth largest week of investments with inflows of $2.42 billion, riding on the surge in Bitcoin prices post-Trump’s 2024 election victory. However, China-based ETFs saw their worst week ever with over $2 billion outflows. While Bitcoin ETFs in the US broke the $100 billion net asset milestone, iShares China Large-Cap ETF or FXI witnessed a record $984 million withdrawal. Bitcoin hit a high of $99,800, while China’s FXI fell over 3%. There are expectations that Bitcoin will cross $100,000, but concerns regarding its sustainability persist.

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Last week was a pretty major one for Bitcoin, with ETFs experiencing their fourth-largest week of investments ever. Things aren’t looking as good across the globe, though, as China-based ETFs had their worst week of outflows in history. This could be a really positive sign for Bitcoin around the world!

Bitcoin ETFs in the USA brought in a whopping $2.42 billion during the trading week from Nov. 18–22. This marks their fourth-best week since they started trading in January.

To make things even more exciting, this big spike in Bitcoin ETF inflows came after Trump won the 2024 presidential election. This has sent Bitcoin prices rocketing, culminating in an epic monthly rise of over 40%. We even saw Bitcoin hitting $99,000 for the very first time!

Meanwhile, the picture in China wasn’t quite as rosy. China-based ETFs took a serious hit last week, with more than $2 billion going out the door. This marks the worst week of outflows in history, and it’s happened even though China has been using stimulus money to try and improve their economy.

In the past, Bitcoin prices have gone up when there’s been trouble in traditional finance. Think back to when the Silicon Valley Bank collapsed and Silvergate Bank went into voluntary liquidation. In fact, the 2023 banking crisis in the US was a big trigger for Bitcoin’s massive increase last year.

The biggest China ETF (the iShares China Large-Cap ETF or FXI) has also been having a hard time, with a record $984 million being withdrawn last week. This steep drop in investments has been happening, despite China’s attempts to stimulate their economy.

While all this has been going on, Bitcoin prices have continued to climb. Last week Bitcoin ETFs broke the $100 billion net asset milestone. And by Nov. 22, Bitcoin hit yet another all-time high of $99,800, which is a 9.5% increase over the previous week. At the same time, China’s FXI fell by over 3%.

There’s been loads of money flowing into exchanges, which could push Bitcoin beyond $100,000 before the end of November. However, some people are worried about whether this massive increase is sustainable. The founder of Crypto.com said the crypto market will need to balance out before Bitcoin can hit $100,000.