Crypto: Bitcoin Etfs Bounce $562m After $1.5b Sell-off, As Headwinds Linger

Spot Bitcoin ETFs drew $562 million in inflows Monday, partially offsetting $1.5 billion outflows last week, while Ether ETFs remained in the red.

Bitcoin exchange-traded funds (ETF) experienced another recovery on Monday amid a challenging market environment for BTC and broader digital assets.

Spot Bitcoin (BTC) ETFs drew about $562 million of inflows, breaking a four-day outflow streak. $1.5 billion of outflows were recorded last week, according to SoSoValue data.

Despite the uptick, analysts cautioned that ETFs and broader markets are likely to face continued pressure from institutional selling and macro uncertainty, with near-term support potentially sticking around ETF cost basis levels of $84,000.

The inflows came as Bitcoin rebounded on Monday after briefly dipping below $75,000 over the weekend, surging to an intraday high above $79,000, according to CoinGecko.

The fresh $562 million of inflows account for a notable portion of year-to-date outflows for spot Bitcoin ETFs, which stood at $1 billion as of Tuesday.

So far this year, total outflows have reached $4.6 billion, offsetting $3.6 billion of inflows, according to SoSoValue data.

In contrast, Ether (ETH) ETFs did not manage to reach any inflows on Monday, posting minor outflows of $2.9 million.

In addition to the outflows, Bitcoin’s price has fallen below the ETF flow cost basis, Galaxy Digital’s head of research Alex Thorn said in a market update on X on Monday.

“BTC is currently trading 7.3% lower than the average ETF create cost basis ($84k), though it traded as low as 10% below that level on Saturday, Jan. 31,” Thorn noted, adding:

Source: CoinTelegraph