ETF Outflows and Shrinking On-Chain Activity Weigh on Crypto Sentiment

On March 27, Bitcoin spot ETFs saw net outflows of $225.5 million, while Ethereum ETFs posted $48.5 million in redemptions and Solana ETF products recorded $7.8 million in net outflows. Bitcoin network participation also cooled, with active addresses down more than 30% since August 2025. The data points to softer institutional risk appetite alongside weakening on-chain engagement.