ETF analyst Eric Balchunas said many people seem to be forgetting that Bitcoin “spanked everything so bad” in 2023 and 2024, while other asset classes “still haven’t caught up.”
Investors pulled around $1.82 billion from US-based spot Bitcoin and Ether exchange-traded funds (ETFs) over the past five trading days, as market sentiment continued to weaken after the precious metals rally.
Between Monday and Friday, US-based spot Bitcoin (BTC) ETFs lost $1.49 billion, while spot Ether (ETH) ETFs saw $327.10 million in net outflows, according to Farside. The outflows come as the spot price of both cryptocurrencies continued to decline, despite recent signs of a recovery. Over the past seven days, Bitcoin and Ether have fallen 6.55% and 8.99% respectively, trading at $83,400 and $2,685, according to CoinMarketCap.
Bitcoin rose 7% over the two days leading to Jan. 15 amid speculation about the US CLARITY Act, but the rally was short-lived.
