Spot Bitcoin exchange-traded funds reversed a four-week inflow streak, posting $296.18 million in net outflows for the week ended Friday. That pullback follows more than $2.2 billion of combined inflows over the prior four weeks, which included $787.31 million, $568.45 million and $767.33 million in early March and $95.18 million in the previous week.
The weekly reversal was driven by consecutive daily withdrawals on Thursday and Friday that together exceeded $396 million. Friday alone saw $225.48 million in redemptions, the largest single-day outflow since March 3, when ETFs recorded $348 million in outflows.
Cumulative net inflows into spot Bitcoin ETFs now total $55.93 billion, while total net assets have fallen to $84.77 billion from more than $90 billion a week earlier. Trading activity cooled as well: weekly volume dropped to $14.26 billion from roughly $25.87 billion earlier in March.
Analysts say the apparent macro calm is masking underlying risks. A Bitunix analyst described the backdrop as showing “surface stability, internal imbalance,” noting that developments such as a US–EU trade agreement and a pause in Middle East escalations have eased immediate market stress but have not resolved deeper geopolitical and policy uncertainties. Under those conditions, the analyst said Bitcoin is behaving less like a breakout asset and more like a gauge of liquidity—trading in a range near $65,000 to $72,000, with downside moves absorbed by demand but limited upside momentum. In their view, capital is not leaving the market, but investors are reluctant to take directional risk, so volatility may remain confined to established ranges until macro clarity improves.
Spot Ether ETFs extended their outflow streak, recording $206.58 million in net redemptions for the week, the second consecutive week of losses and a reversal of the modest inflows seen earlier in March. Daily data show withdrawals every trading day since March 18, with the largest single-day outflow on Thursday at $92.54 million and $48.54 million on Friday.
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