US Bitcoin ETFs See $1.72B Five-Day Outflow Amid Extreme Fear
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U.S. spot Bitcoin exchange-traded funds (ETFs) recorded net outflows for a fifth consecutive trading day, with $103.5 million leaving the products on Friday, extending a streak that began the previous Friday. Over the five-day span, which included a four-day U.S. trading week shortened by Martin Luther King Jr. Day on Monday, cumulative outflows totaled approximately $1.72 billion, according to Farside data.
The spot price of Bitcoin is $89,160 at the time of publication, and it has not surpassed the psychological $100,000 threshold since Nov. 13, according to CoinMarketCap.
Bitcoin is up 2.40% over the past 30 days. Source: CoinMarketCap
Market observers often track spot Bitcoin ETF flows as an indicator of retail sentiment and as a potential signal for the near-term direction of Bitcoin.
The crypto market is in a “phase of uncertainty,” says Santiment
Broader crypto market sentiment has weakened in recent days. The Crypto Fear & Greed Index, which gauges overall sentiment across the digital asset market, registered an “Extreme Fear” reading of 25 in its update on Sunday.
The Index has been in “Extreme Fear” territory since Wednesday. Source: alternative.me
Crypto analytics platform Santiment described conditions as “a phase of uncertainty” in a report published Saturday. The firm noted that retail participants are exiting while capital and attention shift toward traditional assets, and suggested a potential near-term reversal from recent downside. It added that quieter indicators, including supply distribution and limited social chatter, imply a possible bottom may be forming. “The best move is probably patience,” Santiment said.
Nik Bhatia, founder of global macro research firm The Bitcoin Layer, said in an X post on Saturday that weakening sentiment may be partly tied to sharp gains in metals. “With gold practically $5,000 and silver at $100, the sentiment in Bitcoin is so poor due to being left out of the metals rally that it almost feels like post-FTX $17,000 bear vibes,” Bhatia said.
“I am bullish but the painful type where fear dominates and you have to push through it,” he added.
Crypto analyst Bob Loukas said sentiment is deeply negative and suggested the market may be due for a strong countertrend rally.
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