Investors withdrew about $1.82 billion from U.S. spot Bitcoin and Ether exchange-traded funds (ETFs) in the past five business days as market sentiment continued to weaken following the rally in precious metals.
Monday through Friday, U.S.-based Spot Bitcoin ($BTC) According to Pharcyde, the ETF lost $1.49 billion, while the Spot Ether (ETH) ETF had a net outflow of $327.1 million. The outflow comes as the spot prices of both cryptocurrencies continued to decline despite recent signs of recovery. Over the past seven days, Bitcoin and Ether have fallen 6.55% and 8.99%, respectively, to trade at $83,400 and $2,685, according to CoinMarketCap.
Bitcoin has fallen 5.13% in the past 30 days. sauce: coin market cap
Bitcoin rose 7% in the two days to January 15 on speculation about US transparency laws, but the rally was short-lived.
During this period, the highest inflow day for Bitcoin ETFs in 2026 was on January 14th with $840.6 million, just before the Crypto Fear & Greed Index, which measures overall crypto market sentiment, soared to its highest score of the year with a Greedy score of 61.
Bitcoin negativity is ‘very short-sighted,’ ETF analyst says
Cryptocurrency market participants often track the flow of spot crypto ETFs to gauge retail investor sentiment and gain clues about an asset’s short-term price direction.
ETF analyst Eric Balchunas said the negativity surrounding Bitcoin’s recent price movements relative to gold and silver is “very short-sighted.”
“Bitcoin hit everything hard in 2023 and 2024,” Balciunas said in an X post on Saturday, stressing that people seem to have forgotten that.
“Even after the best year ever, other assets have yet to catch up. $BTC Balciunas said Bitcoin’s “institutionalization story” was baked in quickly and “before it actually happened.”
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“We needed a breather for the actual story to catch up with the price,” Balciunas said.
This week, gold and silver reached record highs of $5,608 and $121, respectively. But on Friday alone, gold fell 8% to $4,887 and silver fell about 27% to $84.
“If ETF demand continues over the long term, Bitcoin prices will become parabolic,” Matt Hogan, chief investment officer at Bitwise, said in an X post on January 15th.
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