TL;DR:
Spot Bitcoin ETFs listed in the United States recorded $291 million in outflows on Monday, the largest single-day outflow since March 27, according to data from SoSoValue. The capital movement occurred simultaneously with an approximately 5% rise in BTC’s price, which reached four-week highs and came very close to $75,000.
The main driver of withdrawals was the Fidelity Wise Origin Bitcoin Fund (FBTC), which accounted for $229 million of total outflows, according to data from Farside. This weakness was not evenly distributed across funds but concentrated in a handful of vehicles, suggesting a cautious repositioning by certain investors. The general market sentiment remains negative, and some analysts warn that BTC could pull back to $50,000 before embarking on a sustained recovery.
Against the negative net flow, BlackRock recorded nearly $35 million in inflows on Monday, extending its positive streak to four consecutive days. Over that period, the fund accumulated $482 million in inflows. The Morgan Stanley Bitcoin Trust ETF (MSBT), launched on April 8, also achieved a four-consecutive-day inflow streak since its debut, registering approximately $68 million in total.
With Monday’s losses, spot Bitcoin ETFs returned to negative territory for the year to date, recording around $160 million in cumulative outflows.
Altcoin funds managed to stay in the green. Spot Ethereum ETFs recorded $9.4 million in inflows, reaching three consecutive days of gains and accumulating nearly $160 million over that stretch. XRP funds received $1.5 million, while Solana funds recorded no movements.
On the other hand, the Crypto Fear & Greed index surpassed 20 for the first time since March 19, although it remained in “extreme fear” territory with a reading of 21. Some CryptoQuant analysts noted that a lasting recovery would require the return of fresh capital to derivatives markets, with an increase in open interest being a necessary condition to confirm the trend.
