US spot Bitcoin ETFs recorded their heaviest one-day pullback since January 29, with total net outflows reaching $648.6 million, according to SoSoValue. The move followed roughly $1 billion in withdrawals last week and brought an end to a six-week stretch of net inflows.
BlackRock’s IBIT led the selloff, posting $448.3 million in net outflows for the day. ARKB, issued by ARK Invest and 21Shares, lost $109.6 million, while Fidelity’s FBTC saw $63.4 million leave the fund. Spot Bitcoin ETFs from Bitwise, VanEck, Invesco, and Franklin Templeton also finished the session with net outflows.
Analyst links the move to short-term risk reduction
Zeus Research analyst Dominick John said the ETF outflows point to a short-term defensive shift among institutional investors. In his view, the main drivers were profit-taking and concern over macroeconomic uncertainty. He added that institutions are not necessarily turning bearish on Bitcoin; instead, they are using ETFs as liquidity management tools and keeping capital on the sidelines while waiting for clearer signals from interest-rate policy and market volatility.
Bitcoin drops below $77,000 as macro pressure builds
The report said Bitcoin fell back below $77,000 on the 19th. Market watchers tied the decline to rising geopolitical tension between the US and Iran and a jump in global oil prices, both of which have fed concerns about renewed inflation pressure. At the same time, higher US Treasury yields have made risk-free returns more attractive. With liquidity conditions tightening, that mix has pushed some institutions to cut risk exposure.
Stablecoin growth keeps focus on sidelined capital
Even with ETF selling intensifying, John said Bitcoin remains in a macro-driven consolidation phase and has built a support zone around $76,000 to $77,000. He also pointed to continued growth in stablecoin market value as a sign that deployable capital is still waiting off-market and could re-enter if Bitcoin retests key support levels.
Bitrue research head Andri Fauzan Adziima described the recent pullback as closer to a healthy rotation within a longer-term uptrend, even though short-term swings remain sharp. He also said traders should watch comments from new Federal Reserve Chair Kevin Warsh, especially on inflation, interest rates, and broader monetary policy.