US spot bitcoin ETFs bleed $410 million as BTC slips below $66,000

The 12 U.S.-listed spot bitcoin exchange-traded funds experienced $410.37 million in outflows on Thursday, marking their second consecutive session of losses, as Bitcoin fell to $65,266 following stronger-than-expected U.S. nonfarm payroll data. This brought the two-day total withdrawal to $686.27 million, with BlackRock's IBIT and Fidelity's FBTC leading the redemptions. Despite this immediate pressure, the long-term institutional investment remains significant, with total net inflows since inception reaching $54.31 billion. The market pullback was also framed by analysts revising forecasts; Standard Chartered lowered its 2026 BTC target to $100,000 from $150,000, while JPMorgan reduced its estimate of Bitcoin's production cost to $77,000 from $90,000, though both maintain long-term positive outlooks.

(Source：The Block)