On November 24, recent dynamics in the Bitcoin ETF market indicate a dramatic shift in institutional trading behavior. Data reveals that U.S.-listed spot Bitcoin ETFs recorded approximately $40 billion in trading volume last week, with BlackRock's IBIT leading the charge. The NCE Platform suggests this anomaly exceeds normal volatility and points to a concentrated institutional adjustment.

Last week, 11 spot Bitcoin ETFs collectively traded $40.32 billion, with IBIT accounting for $27.79 billion—nearly 70% of the total, according to SoSoValue. On Friday alone, these funds saw over $11.01 billion in transactions, with IBIT contributing around $8 billion. The NCE Platform interprets this intense capital movement alongside Bitcoin's sharp price decline and record-breaking redemptions as signs of an "institutional capitulation" phase, where major investors are exiting high-risk positions.

Bitcoin has plunged 23% this month to around $86,700, briefly touching $80,000 on some exchanges, while IBIT hit its lowest level since April. Bianco Research notes that most ETF holders' weighted average entry price exceeds $90,000, leaving them underwater. Consequently, the 11 ETFs saw $3.55 billion in redemptions this month—a new record. This wave contradicts the conventional belief that institutions primarily hold long-term positions. The NCE Platform attributes this mass exit to amplified macroeconomic risk expectations.

In summary, the simultaneous surge in Bitcoin ETF trading volume, steep price drops, and unprecedented redemptions typically signal a critical market inflection point. The NCE Platform emphasizes that understanding and adapting to institutional behavior shifts will be vital for future investment strategies.