U.S.-traded spot Bitcoin ETFs experienced total net outflows of $869.86 million on Thursday, marking the second-largest single-day withdrawal on record, according to SoSoValue data.
- Grayscale Mini Trust (BTC) saw the largest outflow at $318.2 million.
- BlackRock’s IBIT followed with $256.6 million.
- Fidelity (FBTC) and Bitwise (BITB) recorded $119.9 million and $47 million in outflows, respectively.
Over the past three weeks, investors have pulled roughly $2.64 billion from Bitcoin ETFs amid regulatory uncertainty, market corrections, and macroeconomic concerns.
Bitcoin liquidations surge
The broader crypto market saw $316 million in leveraged long position liquidations, with $190.65 million in Bitcoin and $49.88 million in Ethereum liquidated in one hour, per Coinglass. Ether ETFs also recorded an outflow of $259.7 million, the largest since October 13.
Bitcoin dropped below $100K for the first time in 188 days, hitting a low of $96,682 during Asia trading hours and currently trading near $96,940. BTC fell 6.2% in 24 hours, underperforming the broader market’s 6.15% decline and breaking below key Fibonacci retracement levels.
The Fear & Greed Index at 22/100 highlights continued market caution. Analysts warn that without renewed institutional buying, Bitcoin may struggle to rebound. Tim Enneking, managing partner of Psalion, cited skepticism, macroeconomic concerns, and a potential end of the bull market cycle as factors behind the drop.
