Spot Bitcoin ETFs recorded their highest ever net daily outflows yesterday

Spot Bitcoin ETFs recorded their highest ever net daily outflows yesterday, with outflows exceeding inflows by $1.14 billion. 10 out of 12 spot Bitcoin ETFs

Yesterday saw record-breaking net daily outflows from Bitcoin ETFs as 10 out of 12 such ETFs in the U.S. market reported net outflows. In total, these ETFs experienced greater outflows than inflows by $1.14 billion.

To put this figure in perspective, the previous record for net outflows was set on December 19, 2024, at $680 million.

These findings are based on data from SoSo Value, which compiles data from various sources to provide a snapshot of the cryptocurrency market.

As the chart above shows, physically-backed gold ETFs saw their highest weekly inflows since March 2022 last week. According to the World Gold Council, these investment products registered 52.4 metric tons of gold in inflows, worth roughly $5 billion, compared to $559 million in net outflows from spot Bitcoin ETFs in the same time period.

The stark difference between flows in Bitcoin and gold ETFs in a period of high market uncertainty is a signal that investors still perceive Bitcoin as a risk-on asset, despite Bitcoin advocates often touting it as a safe haven.

Standard Chartered’s global head of digital asset research Geoff Kendrick expects the sell-off in the Bitcoin market to continue in the short term, saying that a move to the low 80,000s was likely.

According to Kendrick’s estimates, a significant portion of Bitcoin ETF holders is currently in the negative, as those who have invested in Bitcoin ETFs since Donald Trump’s victory in the U.S. presidential election bought in at an average Bitcoin price of around $96,500.

Last week, we covered analysts at JPMorgan expecting a bearish performance from Bitcoin in the short-term, and their call has proven to be accurate so far, with Bitcoin touching as low as $85,900 after an 8.8% price decline in the last 7 days.

Yesterday, the crypto fear and greed index slipped into ‘extreme fear’ territory, signalling very poor crypto market sentiment. Current prices could present a good opportunity for Bitcoin investors with long-term conviction.

The algorithmic Bitcoin price prediction on CoinCodex is forecasting a bullish year ahead for Bitcoin, as it’s currently expecting the world’s largest cryptocurrency to reach as high as $175,000 before the end of 2025.