US Bitcoin ETF: $410 million outflows amid BTC weakness
US spot Bitcoin ETFs posted net outflows for a second day straight on Thursday. This wiped out early-week gains. Friday brought a small inflow of $24 million. It signals some buyers returning. Bitcoin still battles to top $68,000.
A cartoon Bitcoin figurine sits trapped under a falling slab outside Wall Street.
Quick summary
US spot Bitcoin ETFs shed $410 million Thursday. That came after a drop the day before. Friday saw $24 million flow back in. Buyer demand stays weak.
Analysts eye drops for BTC to $50,000. Ethereum might hit $1,400. Both could bounce after.
Bitcoin ETFs face big outflows
SoSoValue data shows $410.37 million left US spot Bitcoin ETFs Thursday. Wednesday saw $276.30 million out. Two days totaled $686 million gone.
BlackRock's IBIT lost the most at $157.6 million. Fidelity's FBTC dropped $104.1 million. Grayscale's GBTC shed $59.1 million. Its BTC fund lost $33.5 million. Other BTC ETFs took the rest.
Daily net flows for Bitcoin spot ETFs show recent outflows over $400 million. Totals keep falling.
Bitcoin spot ETF daily flow overview
Friday flipped to a small gain. Funds added $24.56 million. Fidelity's FBTC grabbed $11.99 million of it. The uptick feels shaky. Glassnode notes the 30-day average net inflow for Bitcoin and Ethereum ETFs stayed negative for three months. Investors act careful. Since launch, Bitcoin ETFs hold $54.34 billion in net inflows. They make up 6.3% of all BTC market cap.
Analyst sees more downside as Bitcoin stalls
Bitcoin trades near $68,000 now. That's 45% below its peak. Geoffrey Kendrick leads digital asset research at Standard Chartered. He expects more dips before calm. BTC may hit $50,000. Ethereum could reach $1,400. He calls those spots to buy. Targets sit at $100,000 for Bitcoin and $4,000 for Ethereum by year-end.
Lately, prices swung wild. Bitcoin climbed from $87,000 to almost $98,000 mid-January on a two-week run. Early February sent it to $60,000. Outflows hit hard then. A bit of recovery followed. Still, it can't hold above $71,000 long.
Options market heats up
Bitcoin holds steady. Yet BTC options open interest climbs. It nears late Q4 2025 peaks. Glassnode says it hit 452,000 BTC. That's up from 255,000 BTC post-December 26 expiry. One- and three-month ATM options implied volatility jumped 10 points lately. Traders bet on big moves soon.
Outflows and wild swings mark now. Still, Bitcoin ETFs hold strong sway. They claim a big slice of the market. Fresh inflows or mood shifts could sway Bitcoin's path.