- Spot Bitcoin ETFs registered nearly $300 million in net outflows for the week ending Friday, ending a four-week inflow streak.
- Analysts note Bitcoin is behaving as a “reflection of liquidity conditions” while remaining range-bound between $65,000 and $72,000.
- Spot Ethereum ETFs also posted over $200 million in weekly outflows, marking a second consecutive week of losses.
Spot Bitcoin exchange-traded funds (ETFs) saw their first weekly outflow in over a month, posting $296.18 million in net redemptions according to SoSoValue data. This shift reversed a strong four-week inflow run that had totaled more than $2.2 billion before slowing recently.
However, cumulative net inflows remain substantial at $55.93 billion, even though total assets have slipped from previous highs. Trading activity also moderated significantly, with weekly volume falling to $14.26 billion.
Consequently, Bitcoin’s price dynamics are reflecting broader market conditions rather than breaking out independently. A Bitunix analyst characterized the macro backdrop as one of “surface stability, internal imbalance,” where geopolitical risks persist.
“Capital is not exiting the market, but neither is it willing to take directional risk,” the analyst said. In this environment, Bitcoin’s movement is likely to stay volatile within its established range.
Meanwhile, spot Ether (ETH) ETFs recorded $206.58 million in weekly outflows. This marks a second consecutive week of losses, reversing the modest inflows seen earlier in March.
Daily data shows consistent withdrawals for Ether funds throughout the week. The largest single-day outflow came on Thursday at $92.54 million, according to SoSoValue.
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