U.S. Spot Bitcoin ETFs See $4.4B Exit in Three Weeks, Dragging on Crypto
According to CoinDesk, U.S. spot Bitcoin ETFs have posted heavy and persistent outflows over the past three weeks, eroding a key source of demand that previously helped stabilize downturns.
The report says U.S. spot Bitcoin ETFs have logged net redemptions for 13 straight trading sessions, totaling about $4.4 billion. BlackRock's iShares Bitcoin Trust (IBIT) represents more than $3.3 billion of those outflows. The shift suggests some institutional investors reduced exposure as market conditions deteriorated.
ETF demand had earlier helped absorb spot selling during pullbacks. With that support fading, the market's capacity to take in supply has weakened. Bitcoin was already pressured around the $80,000–$82,000 zone; as outflows intensified, it broke below that band and later retraced to roughly $60,000.
The selloff broadened from Bitcoin into major altcoins. CoinDesk notes that as Bitcoin weakened, sentiment turned more defensive and capital exited altcoins more quickly. Total crypto market capitalization fell about 15% over the past week to $2.08 trillion, and month-to-date losses have exceeded 22%. Higher-volatility assets saw greater damage, with Ethereum, Solana and other major Layer 1 tokens generally down more than Bitcoin.
Bitcoin's market-cap dominance rose to about 58%. The Altcoin Season Index, a gauge of altcoin relative strength, remains subdued near 40, signaling continued defensive positioning.
Liquidations add fuel to the move
Beyond spot-market weakness, the report points to a wave of forced unwinds in leveraged positions. After Bitcoin and other large tokens broke key support levels, rebound-focused long positions were liquidated, intensifying selling pressure.
Over the last 24 hours, total liquidations topped $1.3 billion, with long liquidations above $1 billion. By asset, Bitcoin liquidations were about $457.5 million, while Ethereum liquidations were about $356 million.
CoinDesk adds that while the deleveraging has reduced excess leverage, the market may need time to absorb the selling before fresh demand emerges, leaving short-term volatility elevated.
