U.S. Bitcoin and Ethereum spot ETFs have experienced four consecutive months of net outflows, losing over $9 billion in total. Bitcoin has fallen from its high of $126,000 to $66,000, and market confidence has rapidly frozen.
The U.S. Bitcoin and Ethereum spot ETFs are experiencing an unprecedented “capital exodus,” with four straight months of net outflows totaling more than $9 billion, marking the crypto market’s entry into a harsh winter.
According to SoSoValue’s data, investors have withdrawn from Bitcoin spot ETFs for four consecutive months, with a total outflow of $6.39 billion, the longest loss record since their listing in January 2024. This also reflects that institutional investors’ enthusiasm for cryptocurrencies has cooled to freezing point.
Meanwhile, Ethereum spot ETFs are also being neglected, with $2.76 billion withdrawn over the past four months. Such a large-scale capital flight indicates that the previously supporting “institutional demand” for these coins has vanished, directly explaining why the prices of these two major cryptocurrencies continue to decline.
Bitcoin soared to a high of $126,000 last October but has now nearly halved to $66,000; Ethereum’s decline has been even more severe, dropping over 60% from its peak of nearly $5,000 in August last year.
Looking back to 2024, the crypto market was once very bullish: the launch of spot ETFs was seen as a major gateway for institutional entry, and the subsequent victory of Donald Trump in the U.S. presidential election further fueled the bullish rally.
However, this momentum abruptly ended in early October last year. At that time, a wave of sell-offs swept through the crypto market, with over $19 billion in liquidation across the entire futures market within just 24 hours. Investor confidence nearly collapsed, and ETF buying dried up. Although sporadic capital inflows have appeared recently, analysts generally believe that without sustained capital inflows, the market will continue to struggle to perform strongly.
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