Bitcoin News Update: Crypto at a Turning Point: Major Investor Acquires $2.3B While $3.8B Leaves ETFs

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Bitcoin News Update: Crypto at a Turning Point: Major Investor Acquires $2.3B While $3.8B Leaves ETFs

Bitget-RWA2025/11/23 11:24

By:Bitget-RWA

- Bitcoin's RSI hit a 2022 low (33), signaling extreme oversold conditions as institutional buyers and crypto whales re-enter the market. - Ark Invest led $79. 3M in crypto stock purchases (Bullish, Circle , Bitmine) while U.S. spot Bitcoin ETFs saw $3.79B in November outflows. - Whale accumulation added $2.3B in BTC (26,300 coins) but contrasted with BlackRock's $523M IBIT redemption and Owen Gunden's $1.3B BTC liquidation. - Market analysts highlight conflicting signals: Ark's "buy the dip" strategy vers

Bitcoin's weekly Relative Strength Index (RSI) has dropped to its lowest point since 2022, indicating that the asset is now extremely oversold as significant investors return to the market. With the RSI at 33—a metric that tracks price momentum—the data highlights a steep decline that has left Bitcoin trading 30% below its October high. Despite the recent volatility, institutional investors and large holders are moving back in, with

Cathie Wood's Ark Invest at the forefront of renewed buying interest

as the market faces a downturn.

Over the past two days, Ark Invest has significantly increased its exposure to crypto-related stocks, acquiring close to $40 million in shares from companies like Bullish,

Circle

Internet Group, and

Bitmine Immersion

Technologies. On November 20, the company bought $39.6 million worth of crypto equities, including $16.9 million in Bullish, $15.1 million in Circle, and $7.6 million in Bitmine, according to trading disclosures. This was followed by another $38.7 million purchase on November 21, with

Coinbase

and

Robinhood

also being added to Ark's portfolio

according to trade filings

and

according to reports

. Cathie Wood continues to employ her "buy the dip" philosophy, taking advantage of lower share prices to strengthen long-term positions in crypto infrastructure firms.

Market swings have been pronounced. The CoinDesk 20 index, which tracks leading crypto companies, dropped more than 4.7% on November 21, while

Bitcoin

itself hovered around $85,600—a 7.41% decline in just 24 hours. Still, activity from large holders points to confidence. Blockchain data shows that wallets with over 10,000

BTC

have accumulated 26,300 coins in recent days, worth approximately $2.3 billion. Meanwhile, the U.K. government continues to quietly hold 61,245 BTC ($5.18 billion)

according to market data

Yet, not all signs are positive. U.S.-listed spot Bitcoin ETFs have experienced $3.79 billion in outflows this month, with BlackRock's IBIT alone seeing a single-day withdrawal of $523 million. Institutional caution is evident, as shown by

veteran trader Peter Brandt's skepticism

about Bitcoin reaching $200,000 by the end of the year. Adding to the uncertainty,

early Bitcoin adopter Owen Gunden recently liquidated

11,000 BTC ($1.3 billion), fueling debate over whether long-term holders are exiting or simply reallocating their assets.

The mixed signals reflect a market at a pivotal moment. While

Ark

Invest and some institutional buyers are finding opportunities, others—like Gunden—are pulling out. Blockchain analyst Willy Woo warns that large transfers from inactive wallets shouldn't be mistaken for panic selling, as

moves to Taproot wallets or institutional custody arrangements

may indicate strategic moves rather than capitulation.

Currently, Bitcoin's RSI sits at a crucial level. Historically, such oversold conditions have often preceded extended recoveries, as was the case in late 2022. Whether this downturn signals the beginning of a prolonged bear phase or sets the stage for a rebound will depend on whether institutional buying and whale accumulation can counterbalance ongoing redemptions and skepticism

according to market analysis

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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