Bitcoin ETF outflows reach record 9-day streak as investors pull $2.8 billion

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Bitcoin ETF outflows reach record 9-day streak as investors pull $2.8 billion The longest run of withdrawals since U.S. spot bitcoin ETFs listed in January 2024 comes as bitcoin underperforms high-flying AI and semiconductor stocks. What to know: - U.S. spot bitcoin ETFs have recorded nine consecutive trading days of net outflows. The longest withdrawal streak since the funds began trading in January 2024. - The ETFs have shed approximately $1.3 billion this week, extending a run of three consecutive weeks of net outflows - Previous periods of sustained ETF selling, particularly when viewed through Glassnode's 14-day moving average of flows, have often coincided with local bitcoin bottoms U.S. spot bitcoin ETFs have now recorded nine consecutive trading days of net outflows, marking the longest withdrawal streak since the products listed in January 2024. SoSoValue data Over the nine-session run, investors pulled roughly $2.8 billion from the funds, surpassing any previous period of sustained selling pressure. U.S. spot bitcoin ETFs have shed approximately $1.3 billion this week, extending a run of three consecutive weeks of net outflows, according to data tracked by SoSoValue. Monthly withdrawals now stand at roughly $2.3 billion. The outflows have coincided with a sharp decline in bitcoin, which has fallen from roughly $80,000 to $73,000 over the period. However, the broader backdrop extends beyond bitcoin's own price action. Since the start of the year, bitcoin has lagged many of the market's best-performing assets, particularly AI-related equities, semiconductor and memory-chip stocks, which have continued to attract capital amid growing enthusiasm around AI infrastructure spending. Signs of institutional selling have also emerged beneath the surface. BlackRock's iShares Bitcoin Trust (IBIT) recorded its largest single-day outflow since launch earlier this week, driven largely by a sizeable dark pool transaction. While the precise motivation behind the trade is unknown, the scale of the redemption suggests some investors may be reallocating capital away from bitcoin exposure and toward sectors that have recently generated stronger returns. Sustained ETF outflows have often historically coincided with periods of market stress that later developed into local bottoms. Glassnode data shows that the 14-day moving average of ETF flows tends to trough near significant turning points. Similar patterns emerged during the correction in early February, when bitcoin briefly fell toward $60,000, and again in November, when ETF outflows accelerated around bitcoin's post-all-time-high pullback and local low near $85,000. More For You Bitcoin's failed breakout above $83,000 is looking increasingly like a bear market signal, even as S&P 500 and Nasdaq futures notch gains and approach all-time highs. What to know: - Bitcoin's rejection above $83,000 has compounded a pattern of lower highs stretching back to October. - Derivatives markets are sending mixed signals: Implied volatility has compressed to its lowest since September, suggesting traders expect near-term calm, yet one-week put-call skew has crept higher, meaning demand for downside protection is building. - Stellar...

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