Bitcoin has dropped sharply over the past two months, and behind this plunge is a major factor: ETF funds are fleeing at a frantic pace.

November’s numbers are particularly striking—a net outflow of over $3.5 billion, setting the worst record in history. Retail investors are panicking as they watch the price plunge, and institutional funds are quietly pulling out as well. This double pressure from both sides has sent the market into a deep chill.

What’s even more worrying is the vicious cycle between capital outflows and price drops: as prices fall, more funds flee, which in turn accelerates the decline. At times like this, don’t panic just because others are selling at a loss. Protecting your principal is always more important than betting on an uncertain rebound. When market sentiment is extreme, surviving is the most important thing.