Bitcoin ETF Outflows Approach $1 Billion as Market Sell-off Continues
Recent data revealed that net outflows for US spot Bitcoin ETFs nearly hit the $1 billion mark on Tuesday, indicating a trend of significant losses in the crypto market. These outflows have been exacerbated by macroeconomic concerns following President Trump's recent tariff threats.
According to insights from Farside Investors and Trader T, Bitcoin ETF net outflows on Tuesday totaled $937 million. Notable funds experiencing significant outflows include Fidelity’s FBTC with $344 million, BlackRock’s IBIT at $164 million, Bitwise’s BITB at $88 million, and Grayscale’s BTC at $85 million.
Other major players like Franklin Templeton’s EZBC, Grayscale’s GBTC, Invesco’s BTCO, Valkyrie, WisdomTree, and VanEck’s funds also reported notable net outflows ranging from $10 million to $74 million.
The current outflow numbers have surpassed previously set thresholds, reflecting a growing sense of concern among investors in response to recent geopolitical developments. The trickle-down effect of President Trump's tariff announcements has led to liquidations totaling up to $1 billion in the crypto markets.
The uncertainty surrounding Trump's tariff policies has fueled market panic, ultimately impacting the price of Bitcoin, which recently dipped below $91,000. This situation has been further compounded by fears of escalating inflation, prompting investors to turn away from risk assets.
As Bitcoin continues to navigate these turbulent market conditions, key support levels and resistance zones are closely monitored. The immediate focus remains on the critical $85,696 level, with potential support seen around the $67,797–$70,000 range if further downside pressure ensues.
Despite the oversold conditions indicated by the RSI, bearish sentiment persists as reflected in the MACD values. The outlook suggests a delicate balance between bullish and bearish forces, with potential resistance around $91,000 and strong support at $72,500.
In conclusion, Bitcoin faces a critical juncture as it grapples with external pressures and internal dynamics. The market's response to these challenges will play a pivotal role in determining Bitcoin's price trajectory in the near future.