US spot BTC ETF flows turn persistently negative, 7-day…

US spot Bitcoin ETF net flows have swung into persistent outflows, with the 7-day moving average now hovering near the weakest readings of the current cycle, according to Glassnode data. The deterioration in demand has tracked closely with BTC retracing from $82K to $69K, underscoring how materially sentiment has shifted among institutional buyers.

Why it matters

Spot ETF flows are one of the cleaner real-time signals for institutional demand — they strip out derivatives noise and reflect actual capital allocation decisions by fund managers and retail investors accessing Bitcoin through regulated wrappers. When the 7-day average slides toward cycle lows, it suggests the bid that drove inflows through the early part of the year has not merely paused but reversed in a sustained way.

Market impact

The correlation between weakening ETF flows and BTC's slide from $82K to $69K is the key read here: it implies the price weakness is not purely technical but is accompanied by genuine demand softness. Historically, sustained flow reversals of this kind have extended drawdowns until a catalyst — whether a macro shift, a regulatory green light, or a new institutional entrant — resets the baseline. Traders watching for a bottom should track whether the 7-day average stabilises or continues to deteriorate.

Source: [Just a moment...](https://studio.glassnode.com/charts/institutions.UsSpotEtfFlowsNet?mAvg=7&pScl=lin&resolution=24h&s=1705708800&u=1780358400&zoom=)