On Wednesday, Bitcoin spot ETFs recorded a net outflow of $635.2 million, the largest single-day figure on record. This followed Tuesday's $233.3 million outflow, bringing the week's total to $841.2 million. After accumulating $3.4 billion in net inflows over the previous six weeks, the funds are now set for their first weekly net loss.
BlackRock Leads Withdrawals; Morgan Stanley Fund Sees Zero Outflow
The largest daily withdrawal came from BlackRock's iShares Bitcoin Trust, which lost about $285 million. The Ark 21Shares Bitcoin ETF shed $177 million, and the Fidelity Wise Origin Bitcoin Fund dropped $133.2 million. In contrast, the Morgan Stanley Bitcoin Trust ETF saw no outflows on Wednesday and actually gained $6 million the day before. Since its April 8 debut, this fund has never experienced a single outflow day and has quickly accumulated $256 million in assets under management.
Ether ETFs Continue Bleeding; Solana Funds Buck the Trend
Ether-linked ETFs saw another $36.3 million in outflows on Wednesday, bringing the week's total close to $184 million. However, Solana (SOL) funds attracted approximately $6 million in net inflows, with weekly inflows reaching $51.6 million. Additionally, the Hyperliquid (HYPE) fund, launched on Tuesday, saw rapid demand, recording $1.36 million in inflows on its first day and $2.52 million over two days.
BTC Tests $80,000; Analyst Eyes 200-Day Moving Average
Bitcoin price volatility persisted as it repeatedly tested the $80,000 level. CryptoQuant data attributes recent moves to profit-taking after a 37% rally in recent months, alongside mounting unrealized gains and softening spot demand from the U.S. market. Analysts note that the $80,000 level previously acted as resistance during bear markets, bringing short-term investors' cost basis and unrealized profit margins near zero, reducing selling motivation.
Technically, Bitcoin brushed its 200-day moving average around $82,400—a historically critical line of both resistance and support. During deep corrections, demand tends to strengthen around $70,000, according to CryptoQuant. The market is shifting from net inflows to outflows, as many investors lock in profits after the latest rally, prompting a short-term trend reversal.