Bitcoin ETFs Experience $465M Outflows Over Two Days
U.S. spot Bitcoin ETFs recorded net outflows for two consecutive days, totaling nearly $465 million according to Farside Investors data. This reversed a seven-day inflow streak and marked the largest single-day outflow since July 20 when funds saw an influx of over $227 million. BlackRock's IBIT led the exodus with almost $415 million in withdrawals, signaling institutional caution amid macroeconomic concerns. The pullback is attributed to rising U.S.-Iran tensions and expectations of higher inflation and potential Fed rate hikes later this year. Analysts suggest that Bitcoin’s recent rally lacks a solid foundation and capital remains sensitive to global risk factors. Despite the outflows, ETFs still ended last week with a net gain of $34 million. Bitcoin is currently trading at $65,300, up 1.9% on the week. Market participants remain divided: some believe Bitcoin may have already bottomed if the Fed avoids further rate hikes, while others expect stabilization in oil prices and geopolitical tensions to support a recovery.
Topics: Bitcoin ETFs BlackRock IBIT market sentiment outflows