U.S. spot bitcoin exchange-traded funds (ETFs) closed a third straight week in the red, deepening concerns that one of bitcoin’s biggest institutional demand engines is stalling.
Spot Bitcoin (BTC) ETFs saw a net negative outflow of $1.1 billion during the past trading week, marking their fourth-largest week on record, according to data from Foresight Investors.
Data from QuintileGraph shows that the ETF outflows came during a significant correction, as the price of bitcoin fell by more than 9.9% over the past week, trading at 95,740 at the time of writing.
Related: Metaplanet’s Bitcoin Drops 39% as Corporate Treasuries Pressure Over October Crash
According to crypto insights platform Metrixport, the recent correction marked the first pattern of an emerging “mini” bear market.
“Our data shows that the market lacks the catalyst needed for a sharp decline and a sustained rally.”
“With ETF flows weakening, OG reducing investor exposure, and macro conditions that do not offer an immediate catalyst, the path forward is highly dependent on policy decisions coming from the Federal Reserve.”
According to Metrixport, the crypto market is at a “critical turning point,” as key price levels and macro triggers will determine the next major move, according to Metrixport.
The arrival of US spot bitcoin ETFs and strategic investments by Michael Sellers were the primary demand drivers for bitcoin in 2025.
Related: Bitcoin ETFs shed $6.666 billion in second worst day on record, but some analysts are still bullish
The Solana ETF defies market gravity
Spot Solana (SOL) ETFs generate positive returns despite the broader downturn.
Solana ETFs ended last week with $12 million in inflows on Friday, logging 13 consecutive days of inflows since their October 29 launch.
Spot Ether (ETH) ETFs shed $177 million on Friday, marking a fourth consecutive day in the red, according to Farside Investors.
Despite positive ETF inflows, Solana fell 15% on the weekly chart, while Ether fell 11% over the same period.
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