Bitcoin exchange-traded funds (ETFs) in the United States have experienced a three-day outflow streak as the price of Bitcoin briefly dipped below $90,000. According to data from SoSoValue, 12 spot Bitcoin ETFs saw a total of $284.19 million in net outflows on January 13th, marking the third consecutive day of outflows for these funds. In total, over $1 billion has exited the funds during this three-day period.
Leading the outflows on Monday was Fidelity’s FBTC, with $113.64 million leaving the fund. This was followed by ARK 21Shares’ ARKB, which saw outflows of $92.36 million. Grayscale’s GBTC and Bitwise’s BITB also contributed to the negative momentum, with investors withdrawing $89.01 million and $18.64 million from the funds, respectively. The only exception to this trend was BlackRock’s IBIT, which recorded an inflow of $29.46 million.
The total trading volume for the 12 Bitcoin ETFs on January 13th was $3.17 billion, slightly lower than the previous day’s volume of $3.26 billion. These significant outflows coincided with Bitcoin briefly falling below the $90,000 mark on Monday. The decline in crypto assets has been attributed to stronger-than-expected payroll numbers, which caused a spike in bond yields. Additionally, concerns over President-elect Donald Trump’s tariff plans have boosted the dollar and put pressure on Bitcoin and other risk assets.
Despite the recent outflows and market volatility, Bitcoin (BTC) was up 1% at the time of writing, trading above $95,000. Analysts have noted that $95,000 is a key support level for Bitcoin’s potential move back above $100,000.
In addition to Bitcoin ETFs, Ethereum ETFs have also faced outflows, with nine Ethereum ETFs recording their fourth consecutive day of outflows on January 13th. A total of $39.43 million was withdrawn from these funds, with Grayscale’s Ethereum Mini Trust reporting an outflow of $37.84 million. BlackRock’s ETHA managed to offset some of the outflows with an inflow of $12.9 million.
Overall, the cryptocurrency market continues to face challenges as investors navigate market volatility and macroeconomic factors. Despite these challenges, there remains optimism among analysts for the potential recovery and growth of digital assets like Bitcoin and Ethereum.