Net Outflows for US Spot Bitcoin ETFs Approach $1 Billion
Net outflows for U.S. spot Bitcoin ETFs (exchange-traded funds) approached the $1 billion threshold on Tuesday. This marks an extension of these losses, with weekly outflows nearing $1.5 billion.
Bitcoin ETF Net Outflows Near $1 Billion
Data from Farside Investors and Trader T’s analysis reveal that Bitcoin ETF net outflows reached $937 million on Tuesday. Fidelity’s FBTC led these outflows with $344 million, followed by BlackRock’s IBIT, which saw redemptions of $164 million.
Similarly, Bitwise’s BITB and Grayscale’s BTC recorded net outflows of $88 million and $85 million, respectively. Franklin Templeton’s EZBC lost $74 million, while Grayscale’s GBTC and Invesco’s BTCO declined by $66 million and $62 million, respectively.
Additionally, Valkyrie, WisdomTree, and VanEck’s funds also reported net outflows, with BRRR, BTCW, and HODL posting $25 million, $17 million, and $10 million, respectively.
These outflows surpass the thresholds set on December 19, when U.S. spot Bitcoin ETFs saw nearly $672 million in withdrawals after Bitcoin slipped below $97,000.
According to crypto investor Dissolve DC on X (Twitter), the turnout reflects widespread panic on Wall Street. The spot Bitcoin ETF provides institutional investors with indirect access to BTC.
> “We asked Wall Street to join the party; this is what we get,” remarked the investor.
Experts attribute the panic to concerns from President Trump’s tariff confirmations, which ignited fears of inflation and encouraged investors to offload risk assets. As BeInCrypto reported, Trump reignited talks of tariffs on goods from Mexico and Canada, pushing investments away from crypto markets.
> “We’re on time with the tariffs, and it seems like that’s moving along very rapidly…We’ve been mistreated very badly by many countries, not just Canada and Mexico,” stated Trump.
In the immediate aftermath, BTC lost crucial support at $91,000, currently trading at $88,928. This concern is mirrored in last week’s outflows from digital asset investment products.
Bitcoin Price Outlook: Key Levels To Watch
On the daily timeframe, the BTC/USDT trading pair indicates a shift in market structure as Bitcoin’s price dropped below a significant bearish breaker level around the $93,700 area. This shift adds to the overhead pressure on BTC, while the supply zone at $103,991 remains a strong resistance level.
The price is nearing the 200-day EMA at $85,696, which represents crucial support. A breakdown below this level could accelerate bearish momentum. If the 200 EMA fails, the next major support range lies between $67,797 and $70,000, where buying may occur.
The RSI (Relative Strength Index) is at 29.80, indicating oversold conditions for BTC, but without a clear reversal signal. The MACD (Moving Average Convergence Divergence) displays a bearish crossover with deeply negative histogram values, reaffirming the downtrend.
Moreover, a high-volume node (gray for bears) exists around the $91,000 level, acting as immediate resistance. The low-volume area below the current price hints at a possible sharp downward move.
Overall, Bitcoin is positioned at a vital support level. If buyers defend the 200 EMA, a rebound towards $91,000 is feasible. However, a break lower could potentially lead to a decline toward $70,000 in the upcoming weeks.
IntoTheBlock’s Global In/Out of the Money metric supports this outlook, showing Bitcoin faces immediate resistance (red). Any attempts to price upward would encounter selling pressure from roughly 6.11 million addresses that purchased 4.1 million BTC at an average price of $98,050.
Meanwhile, Bitcoin’s initial strong support sits around the $72,500 level, where 6.76 million addresses hold around 2.65 million BTC, bought at an average price of $65,304.
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