CoinDesk
U.S.-listed spot bitcoin ETFs bled $1.72 billion in net outflows last week, the largest single-week redemption in over a year, according to SoSoValue data. The figure dwarfs the $318 million that left ETFs in early February when BTC last traded near $60,000 — and the contrast reveals a fundamental shift in institutional behaviour.
Why it matters
In February, outflows slowed as prices fell toward $60,000. Buyers stepped in. This time the dynamic has inverted: outflows have accelerated for four consecutive weeks, rising from $1 billion to $1.26 billion, then $1.42 billion, and now $1.72 billion as prices declined. Institutions are not buying the dip — they are selling into it. NYDIG head of research Greg Cipolaro attributed the broader selloff to multiple converging headwinds: AI momentum drawing capital away, high-profile tech IPOs, quantum and security fears, sanctions on Iranian crypto exchanges, and Strategy's own BTC sale.
Market impact
The absence of an institutional bid beneath $60,000 is the critical read here. In February that bid existed and provided a floor. Its disappearance now means BTC's $60,000 support is structurally weaker than it was four months ago. With outflows accelerating week-on-week and no sign of the trend reversing, bulls face a difficult task defending current levels. Bitcoin was changing hands near $62,000 at time of writing.
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