Monday’s $648.64 million exit from spot Bitcoin ETFs marks the second straight session of heavy selling pressure amid macro uncertainty.
Spot Bitcoin ETFs recorded $648.64 million in net outflows on Monday, extending last week’s $1 billion exit. BlackRock’s IBIT led the selling with $448 million withdrawn, followed by ARK 21Shares and Fidelity at $110 million and $63 million respectively.
Bitcoin fell 6.7% from $81,700 last Thursday to a weekly low of $76,201 before stabilizing near $76,680. The drop coincided with rising U.S. inflation data that fueled expectations of a Federal Reserve rate hike this year.
Funding rates turned positive after months in negative territory, signaling a shift in derivatives market sentiment despite the price decline.