Bitcoin ETF Inflows Plummet: 10-Day Streak Shattered

From $1.07 Billion to $196 Million: A Crypto Rollercoaster

Hold onto your hats, crypto fans! The U.S. spot Bitcoin exchange-traded funds just took a wild ride, crashing from a 10-day inflow party that raked in nearly $1.07 billion to a mere $196.48 million last week. That's a jaw-dropping 73.6% drop from the previous week's $744.35 million!

According to the latest data, these 12 Bitcoin ETFs started the week of March 24-28 with a bang, pulling in $84.17 million on Monday, followed by $26.83 million, $89.57 million, and $89.06 million. But then, out of nowhere, investor sentiment flipped, and Friday hit us with a net outflow of $93.16 million. Talk about a plot twist!

BlackRock's IBIT led the charge, snagging $172 million, while Fidelity's FBTC wasn't far behind with $86.8 million. Even VanEck's HODL got a piece of the action, drawing in $5 million. But it wasn't all sunshine and rainbows - ARK 21Shares' ARKB, Bitwise's BITB, WisdomTree's BTCW, and Invesco's BTCO took a hit, losing a combined $67.4 million. The rest of the BTC ETFs? Flat as a pancake over the five days.

That Friday outflow? It shattered a 10-day inflow streak, the longest of the year, and analysts are calling the $1.07 billion figure "modest." They're saying there's demand for Bitcoin, but investors aren't exactly jumping off the deep end with risk.

And if you thought that was the end of the drama, think again! Bitcoin's quarterly performance is shaping up to be its worst since 2018, when it nosedived by 49.7%. Right now, it's down 11.86% at $81,939, even worse than the 10.83% drop in Q1 2020. If it bounces back a bit, the loss might not be as bad, but if the selling pressure keeps up, we could see Bitcoin dip below $80,000. Buckle up, folks!

The recent sell-off wiped out almost all of Bitcoin's weekly gains as investors got jittery ahead of President Trump's U.S. reciprocal tariffs set to hit on April 2. And if that wasn't enough, stronger-than-expected core PCE data has everyone worried about a potential delay in Federal Reserve rate cuts, adding even more uncertainty to the mix. It's a wild ride out there in crypto land!