NYDIG's Greg Cipolaro said that the decline in bitcoin prices was driven by market structure mechanisms rather than sentiment, and that key sources of demand were reversing. Continued outflows from spot bitcoin ETFs ($3.55 billion in November), while stablecoin supply declined, suggest that capital is leaving the market.
Cipolaro warned that the market could see higher volatility in the short term, but he maintained a long-term bullish view and advised investors to be prepared for volatility.
NYDIG: ETF outflows, stablecoin fund changes, and DAT reversals show crypto capital flight
2025-11-23 21:15:08
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