Bitcoin fell to $81,000, wiping out yearly gains, as spot ETFs saw $3.57 billion in outflows.

Bitcoin's price dropped to around $81,000, erasing annual gains, amid $3.57 billion in outflows from spot Bitcoin ETFs in November, according to analysts. Economist Mohamed El-Erian blamed a flight of short-term speculative investors, citing $2.27 billion in outflows from the iShares Bitcoin Trust ETF. However, Bloomberg’s Eric Balchunas downplayed the significance, noting outflows were under 3% of the ETF’s assets. At $87,815.31, Bitcoin was down 0.18% in 24 hours, while IBIT shares rose slightly in after-hours trading.