Bitcoin price: Investors yank $171 million from BTC ETFs in largest single-day outflow in three weeks

Institutional demand for bitcoin ETFs appears to be cooling after a strong start to the month. On Thursday, investors withdrew a combined $171.12 million from the 11 U.S.-listed spot bitcoin exchange-traded funds, the largest single-day outflow in just over three weeks, according to SoSoValue. BlackRock’s IBIT experienced $41.92 million in outflows, while other funds like FBTC, GBTC, BITB, and ARKB each saw withdrawals between $20 million and $30 million. This pullback follows robust inflows exceeding $2 billion between late February and mid-month, with momentum slowing to $95.8 million in inflows last week and net outflows of $70.71 million this week. The moderation in flows suggests a pause in institutional accumulation, as investors adopt a more measured approach. The slowdown in demand raises concerns about bitcoin's ability to maintain its price near $70,000 amidst macroeconomic challenges, including disruptions to Russian oil flows and concerns about persistent inflation.

(Source：CoinDesk)