Overview
- Market data on November 21 showed Bitcoin around €72,428, roughly 9% lower over 24 hours and down double digits over the week and month.
- Outflows of hundreds of millions of dollars from spot-Bitcoin ETFs in a single day translated directly into sell pressure because the funds are physically backed.
- State Street’s Elliot Hentov says crypto is tracking other risk assets, with reduced risk appetite magnifying losses and a potential rebound contingent on a return of risk-taking.
- dEURO Association’s Joshua Krüger cites souring AI sentiment, short-selling in leading tech names, and macro strains as forces pulling investors toward cash and defensive assets.
- Germany’s BaFin reiterates that ETFs tracking a single crypto asset are not permitted, while separate commentary points to possible 2026 supports such as clearer U.S. rules and expanding tokenization.