- Bitcoin ETFs saw 1,160 BTC in net outflows last week, equating to $105 million.
- Analysts warn there are no signs of new institutional accumulation as selling continues.
- ETF outflows align with Bitcoin’s recent price weakness, suggesting a cooling of demand.
U.S. Bitcoin ETFs are once again exhibiting weakness, with fresh data indicating another week of net outflows. According to on-chain analyst Ali, spot Bitcoin ETFs witnessed 1,160 BTC of outflows combined, which is equivalent to roughly $105 million in value, thereby underscoring a lack of new institutional demand as BTC struggles to regain upward momentum.
ETF Outflows Signal Cooling Institutional Interest
According to data from Glassnode, US spot Bitcoin ETFs have once again shifted back into net-negative territory, continuing a trend established over the last few weeks. ETF inflows have often been one of BTC’s biggest tailwinds, driving the early 2024 rally, but the latest charts reveal a marked absence of any renewed accumulation. Putting that into perspective, Ali’s point indicates that institutions are currently net sellers and not buyers, which in turn puts less upward pressure on BTC’s price.
Also Read: Michael Saylor Announces New Bitcoin(BTC) Buy as Holdings Expand to 660,624 BTC
Market Sentiment Remains Guarded
The performance of the price of Bitcoin has indeed mirrored the slowdown in ETF activity. Analysts say that BTC might continue to face resistance unless inflows return, or macro conditions flip in favor of risk assets.
Glassnode’s chart also illustrates how ETF flows track the BTC price swings. For significant rallies, strong inflows are seen, while periods of extended outflows commonly reflect consolidation or corrective phases.
Analysts continue to focus on whether the ETF flows stabilize or reverse for now. Another wave of inflows might signal fresh institutional demand and could thus support a rebound in BTC. But until then, as Ali warns, ETF markets show “no signs of accumulation yet”, underscoring ongoing caution among U.S. institutional buyers.
Also Read: Bitcoin, Ethereum, and Altcoins Face Mixed Week While TRON Surges to 350 Million Accounts
