 ▲ Bitcoin (BTC) ETF |
More than $200 million exited spot Bitcoin (BTC) ETFs in a single day, as the market’s relief rally ran into strong resistance.
According to a March 6 report by Cointelegraph, U.S. spot Bitcoin ETFs recorded net outflows of $228 million on Thursday, ending a three-day streak of inflows. Investor sentiment cooled rapidly as Bitcoin’s price slipped below $71,000, reversing the positive momentum that had seen approximately $1.1 billion flow into the funds over the previous three days. Data from crypto analytics firm SoSoValue showed that the latest outflows pushed the cumulative net outflows for 2026 to around $900 million.
The withdrawals were led by funds from major asset managers that had previously driven inflows. BlackRock’s iShares Bitcoin Trust (IBIT) saw $89 million in outflows, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) and Bitwise’s Bitcoin ETF (BITB) recorded outflows of $48 million and $46 million, respectively. Market experts suggest that the recent rebound is more likely a temporary relief rally within a broader downtrend rather than the beginning of a new bull market.
The spot altcoin ETF market was also unable to avoid the broader downturn. Spot Ethereum ETFs posted $91 million in outflows, while spot ETFs for XRP and Solana (SOL) saw smaller withdrawals of $6 million and $5 million, respectively. Notably, the spot Solana ETF recorded its first outflows since early February, reflecting the negative sentiment spreading across the market. Despite a 57% price drop since its launch last July, the spot Solana ETF has still maintained cumulative inflows of $1.5 billion, demonstrating solid support from institutional investors.
Crypto analytics firm CryptoQuant warned that Bitcoin’s recent move above $73,000 may have been nothing more than a technical rebound. Analysts maintain a bearish outlook, suggesting that if the current crypto winter persists, Bitcoin could fall below $60,000 again. Although total assets under management for spot Bitcoin ETFs remain around $90 billion, concerns are growing that market momentum is fading as the pace of inflows has slowed significantly.
The crypto market is currently in a transitional phase where the limits of the relief rally intersect with broader macroeconomic downside pressures. Continued outflows from spot Bitcoin ETFs indicate that liquidity inflows are stagnating, a factor that could further heighten price volatility. Investors are advised to adopt cautious strategies, focusing on actual fund flows and the defense of key support levels rather than reacting emotionally to short-term price recoveries. Whether Bitcoin can firmly reclaim the $71,000 level is expected to be a critical watershed for determining its short-term trend.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses incurred based on it. The information provided should be interpreted for informational purposes only.*