US-listed spot Bitcoin ETFs experienced significant outflows, totaling $1.1 billion over three consecutive sessions. This reversal follows initial inflows at the start of the year. The outflows included selling from major players like BlackRock’s IBIT and Fidelity’s FBTC. According to CryptoQuant, the composition of selling suggests institutional de-risking rather than retail panic. Despite the outflows, CryptoQuant CEO Ki Young Ju suggests that the market has evolved, with large institutional holders like MicroStrategy providing a price floor. However, Bitcoin’s "apparent demand" has turned negative, indicating that new capital absorption is not keeping pace with supply.

US-listed spot Bitcoin ETFs experienced significant outflows, totaling $1.1 billion over three consecutive sessions. This reversal follows initial inflows at the start of the year. The outflows included selling from major players like BlackRock’s IBIT and Fidelity’s FBTC. According to CryptoQuant, the composition of selling suggests institutional de-risking rather than retail panic. Despite the outflows, CryptoQuant CEO Ki Young Ju suggests that the market has evolved, with large institutional holders like MicroStrategy providing a price floor. However, Bitcoin’s "apparent demand" has turned negative, indicating that new capital absorption is not keeping pace with supply.