The Bitcoin ETF outflow has reached almost $750 million over the past two days. As the cryptocurrency market continues to decline, BlackRock has sold about 2,000 BTC in the last 24 hours.
ETF issuers have come to hold less BTC than Satoshi. They exceeded him three months ago and have continued to purchase large amounts of Bitcoin. This really indicates a massive sell-off.
Bitcoin ETF Outflow Continues
When Bitcoin ETFs were first approved by the SEC last year, it brought changes to the market. However, it has recently turned bearish.
At the end of February, the market experienced a $2.7 billion outflow. This trend has continued. There has been outflow for 4 consecutive weeks. This week alone, the market lost almost $750 million.
This represents 7 consecutive days of outflow from this ETF market. BlackRock's product IBIT recorded a loss of $151 million in the last 24 hours.
In mid-February, some analysts began speculating that BlackRock would sell Bitcoin. ETF analyst Shaun Edmondson noted how significant this trend has become:
"The market is currently in a very 'risk-averse' state due to tariff uncertainty. But this is another outflow from US spot ETFs. They have now fallen below Satoshi again. Considering the SEC's bullish narrative, the $21 billion strategic capital raise, and state and national Bitcoin reserve bills, this is somewhat surprising," Edmondson argued.
BlackRock has sold around 2,000 BTC since Edmondson posted yesterday's daily tally. It's unclear how far ETF issuers will take this trend, but these Bitcoin sales are very concerning.
These issuers exceeded Satoshi's Bitcoin holdings in December. So these outflows have already depleted 3 months of massive purchases.
Nevertheless, despite the pessimism around these ETFs, Bitcoin's actual price could have been much worse. The entire cryptocurrency market has been hit by massive outflows. BTC has declined accordingly.
However, this morning's US CPI report was better than expected. This has given Bitcoin a bit of a reprieve. But how long this respite will actually last, no one knows.
