Bitcoin ETFs See Record Outflows Amid Market Volatility

Bitcoin spot ETFs in the U.S. saw significant outflows of $1.2 billion over eight days, marking a record losing streak since their introduction in January 2024. This coincided with a 17.28% price decline for Bitcoin, which dropped from $64,600 to $53,490. The falling Spent Output Profit Ratio (SOPR) below 1.0 indicates that many investors are selling at a loss, a pattern seen in past bear markets. Despite these outflows and negative sentiment driven by strong macroeconomic data, some traders remain bullish, viewing the dip as a buying opportunity. The recent outflows were concentrated in the U.S., but Europe saw inflows, particularly into Solana-based products. The market is now keenly awaiting upcoming U.S. economic reports, which could influence future trends.