Bitcoin ETF outflows have amounted to nearly $750 million in just the past two days amid a consistent decline in the crypto market. BlackRock, the largest issuer, has sold off approximately 2,000 BTC in the last 24 hours.

The collective offloading of BTC by the ETF issuers has now brought their total holdings below that of Satoshi. This drastic shift occurred only three months after surpassing the legendary figure, as they persist in shedding significant amounts of Bitcoin, signaling a wave of massive sales in the market.

Ever since the SEC greenlit Bitcoin ETFs last year, they have been a game-changer, but recent trends have taken a bearish turn. The market experienced a staggering $2.7 billion in outflows towards the end of February, and this negative pattern has persisted, with the past four weeks recording continuous outflows. This week alone, losses stand close to $750 million.

This ETF market has now witnessed seven straight days of outflows, with BlackRock's IBIT product leading the charge by incurring losses of $151 million in the past day. Analysts had already speculated in mid-February about BlackRock planning to divest its Bitcoin, indicating a significant shift in the market sentiment.

Despite the concerns raised by these ongoing outflows, Bitcoin's price has not experienced a catastrophic plunge yet. The broader crypto market has been grappling with substantial outflows, which have had a corresponding impact on BTC prices. Nevertheless, a slightly better-than-expected US CPI report today provided a brief respite for Bitcoin, although the future outlook remains uncertain.