U.S. spot Bitcoin ETFs recorded their biggest one-day outflows since late January after investors pulled nearly $650 million from the funds as Bitcoin dropped below $78,000.
According to data from SoSoValue, spot Bitcoin ETFs saw net outflows of $648.6 million on Monday. The losses extended last week’s total withdrawals to nearly $1 billion, ending a six-week streak of strong inflows.
BlackRock’s IBIT fund saw the largest withdrawals, losing $448.3 million in a single day. ARK Invest and 21Shares’ ARKB fund lost $109.6 million, while Fidelity Investments’s FBTC recorded $63.4 million in outflows. Funds from Bitwise, VanEck, Invesco, and Franklin Templeton also finished the day with losses.
Pressure on Bitcoin increased after the cryptocurrency fell below $77,000 during the weekend. Markets reacted to renewed tensions between the United States and Iran, which pushed oil prices higher and raised fears that inflation could stay elevated for longer than expected.
By Tuesday, Bitcoin was still trading near the $77,000 level. Analysts at Bitfinex described this price zone as important for deciding whether the market’s recent recovery can continue.
In a new market report, Bitfinex analysts said demand from institutional investors appears to be weakening. They explained that two major sources of buying activity, spot Bitcoin ETFs and yield-focused crypto investment products, are both slowing down while macroeconomic pressures continue to grow.
The analysts added that market liquidity has fallen to its weakest level since early February, leaving Bitcoin more vulnerable to interest rate volatility and global economic shocks. According to the report, the crypto market is no longer seeing the same aggressive institutional buying that supported earlier stages of the bull market.
Bitfinex also pointed to slowing on-chain capital inflows. Analysts said Bitcoin’s Realised Cap 30-Day Net Position Change, a metric tracking new capital entering the network, recently reached around $2.8 billion per month after Bitcoin rallied toward $82,000 earlier this month.
However, they noted that previous strong rally periods between 2023 and 2025 were supported by monthly inflows closer to $10 billion. The weaker inflow trend suggests Bitcoin could struggle if macroeconomic pressure and high interest rates continue.
The report also warned that inflation remains a major challenge for the Federal Reserve. Analysts said the central bank is facing growing political pressure to cut rates, even as inflation data continues to complicate the case for easier monetary policy.
