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Bitcoin has suffered another blow as U.S.-based spot Bitcoin ETFs saw net outflows surging to $365 million. Alongside Bitcoin, Ethereum ETFs also faced a net outflow of $13 million, though BTC’s losses remain the dominant story.
Following the significant ETF outflows, Bitcoin’s price has struggled to maintain key support levels. At the time of writing, BTC is hovering near $98,000, consolidating after a sharp decline from recent highs. The asset is currently testing an important support zone around $94,000, which, if broken, could trigger further downside toward $85,000.
The negative ETF flows are indicative of investor caution, particularly among institutional players, who have been major contributors to Bitcoin’s upward trajectory in recent months. While some outflows are expected as part of market cycles, the consistent withdrawals raise concerns about whether Bitcoin’s latest rally is losing momentum.
The largest contributor to the outflows was Grayscale’s GBTC, which saw a net outflow of $98.35 million. Fidelity’s FBTC and BlackRock’s IBIT also recorded redemptions, with $88.24 million and $112.05 million flowing out, respectively. The widespread exits suggest that traders are either taking profits or shifting funds to other investment options amid uncertain macroeconomic conditions.
Despite the bearish sentiment, Bitcoin’s long-term fundamentals remain strong. The market is anticipating the upcoming halving event, which historically acts as a catalyst for price appreciation. Moreover, ETF inflows and outflows tend to fluctuate based on broader market conditions, meaning this downtrend may not necessarily signal a prolonged bearish phase.
In the short term, BTC needs to maintain support above $94,000 to avoid deeper corrections. A breakout above $100,000 could reignite bullish momentum, bringing Bitcoin back into an upward trend. For now, all eyes remain on ETF flows and whether institutional demand can rebound in the coming days.
Dan Burgin
Vladislav Sopov