Bitcoin ETFs Bleed Out as Trump's Tariff Tensions Torpedo Investor Confidence

Massive Outflows Rock Bitcoin ETFs

Holy crypto crisis, Batman! Last week, the U.S. spot Bitcoin ETFs got hammered with a staggering $713.3 million in outflows as investors freaked out over President Trump's aggressive tariff plans. Talk about a market meltdown!

Non-Stop Withdrawal Streak

Get this: from April 7 to 11, every single day saw money getting yanked out of these ETFs, extending a brutal streak that kicked off on April 3. Tuesday was the real gut-punch, with a jaw-dropping $326.27 million in outflows. Even Friday, which seemed like a small relief, still saw over $1 million walking out the door.

Biggest Losers

BlackRock's IBIT took a beating with $342.6 million in outflows, while Grayscale's GBTC wasn't far behind, bleeding $160.9 million. Fidelity's FBTC got hit for $74.6 million. Other ETFs like BITB, BTCO, ARKB, EZBC, BTCW, and HODL also felt the pain, with outflows ranging from about $11 million to $38 million. Ouch!

One ETF Stands Tall

In the midst of this crypto carnage, Grayscale's mini Bitcoin Trust was the lone wolf, pulling in $2.4 million in net inflows. Meanwhile, Valkyrie's BRRR stayed flat, with no flows during the week.

Ethereum ETFs Suffer Too

It wasn't just Bitcoin ETFs feeling the heat. Ethereum ETFs saw their outflows surge 65% to $82.47 million last week. That's seven straight weeks of withdrawals, totaling over $877 million. Talk about a crypto bloodbath!

Trump's Tariffs Trigger the Chaos

So, what's behind this crypto chaos? It's all about the uncertainty surrounding Trump's new tariff plans. He dropped a bombshell with a 10% flat tariff on all imports starting in April, and even higher rates for major trading partners. Yikes!

A Brief Respite, Then More Tariff Turmoil

Markets breathed a sigh of relief on April 9 when Trump hit pause on tariff hikes for 75 allied countries. But that relief was short-lived. The U.S. then cranked up some tariffs on Chinese goods to a whopping 145%, accusing China of unfair trade practices. Not to be outdone, China fired back with tariffs of up to 125% on U.S. goods and halted rare-earth mineral exports. It's a full-blown trade war, and investors are running scared from riskier assets like Bitcoin.

Crypto Market Takes a Hit

At the time of writing, the overall crypto market was down around 2.1% in the past day. But here's a glimmer of hope: despite last week's low of $74,773, Bitcoin has bounced back to nearly $84,500 by Monday, April 14. Could this be the start of a comeback?

Analysts See a Potential Breakout

Some analysts are calling it: Bitcoin (BTC) is on the verge of breaking out of its long downtrend. They're saying the price is just hours away from making the first key move that could kick off a new uptrend phase. Buckle up, crypto fans, because things are about to get wild!