US Spot Bitcoin ETFs Post Largest Cycle Drawdown, Balances Fall by 100,300 BTC

US spot Bitcoin ETF balances have recorded their largest drawdown of the current market cycle, falling by about 100,300 BTC since October, bringing total holdings down to 1.26 million BTC. This contraction is linked to sustained net outflows, with $1.6 billion withdrawn in January alone, continuing a trend that began in November 2025. The decline coincides with a broader market downturn where Bitcoin has fallen significantly from its October all-time high, leading to paper losses of around 20% for investors whose average entry price was $83,980. Experts suggest institutional de-risking and hedging activity are amplifying downside pressure. Despite these recent outflows, cumulative net inflows into Bitcoin ETFs remain substantial at approximately $53 billion, suggesting the current pressure reflects cyclical risk reduction rather than a structural reversal.

(Source：BeInCrypto)