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The run is over. Bitcoin spot ETFs saw huge net outflows of $903 million at the end of the trading week of Sept. 22-26, following four weeks of net inflows. Weeks of consistent accumulation are erased by the reversal, which also indicates a change in investor sentiment, as the cryptocurrency market is impacted by profit-taking and macro pressures.
Everyone takes hit
It was not just Bitcoin that was hurting. With all nine funds reporting redemptions for the week, Ethereum spot ETFs also saw significant outflows of $796 million. After months of resiliency, this coordinated withdrawal from the two top digital assets points to a general cooling in institutional crypto products, indicating that risk appetite is waning.
In terms of price, Bitcoin lost traction with its short-term moving averages and traded close to $109,000. The next important support zone is the 200-day EMA, which is around $106,200. The breakdown below the 100-day EMA, which is around $112,800, confirmed weakness. Bitcoin’s long-term defense line has historically been the 200 EMA, whether bulls can hold it will determine how much deeper the correction gets.
ETFs bleeding
ETF and on-chain data now present a cautious picture. The weekly ETF flows chart reveals the biggest withdrawal in months, where billions of net assets have been lost. While weekly net inflows fell to almost -$903 million, total net assets across Bitcoin ETFs fell to $143 billion. Bitcoin volumes surged during the decline, and such sharp withdrawals frequently result in selling pressure on the spot market.
With $796 million leaving ETFs in a single week, Ethereum’s story is similar to Bitcoin’s decline. The coordinated withdrawal from both assets shows that institutional players are removing their entire, at least temporarily, exposure to cryptocurrency rather than just moving their money around.
The stability of Bitcoin above $106,000 to $108,000 will be critical in the future. Losses could reach the psychological threshold of $100,000 if this zone is not maintained. Even after weeks of consistent institutional accumulation, the most recent ETF outflow data demonstrates how quickly sentiment can shift, even though long-term fundamentals are still sound.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team