Spot Bitcoin ETFs in the U.S. have just logged their longest losing streak in more than four months, with investors pulling out roughly $1.17 billion over the last five trading sessions.
The downturn comes as Bitcoin lingers below its recent all-time highs, prompting debate over whether the market has entered oversold territory.
Bitcoin briefly touched $124,128 on August 14, but has since slipped to around $112,870. That retreat has coincided with steady ETF redemptions, the sharpest since April, when Bitcoin traded near $79,600.
Pompliano Signals Oversold Levels
Crypto investor Anthony Pompliano told CNBC that the current range around $112,000–$113,000 looks undervalued. He noted that Bitcoin historically regains momentum heading into September and October, particularly in the year following a halving event.
“Market activity picks up as summer ends, and if traders believe Q4 is strong for Bitcoin, they often act accordingly,” Pompliano explained.
Seasonal Patterns Support Bullish Case
Data from CoinGlass shows that the third quarter has traditionally been Bitcoin’s weakest, with an average gain of just 6%. By contrast, the fourth quarter has been its most profitable, delivering an average return of more than 85%. Pompliano suggested that this seasonal psychology could encourage new inflows as Q4 approaches.
One Million Not This Cycle
Despite his optimism, Pompliano pushed back on predictions of Bitcoin hitting $1 million anytime soon. While he believes such a milestone is inevitable, he said it is unlikely to occur in the current cycle. Instead, he expects fresh demand could be driven by treasury funds and a widely anticipated U.S. Federal Reserve rate cut scheduled for September 17.
His outlook contrasts with Coinbase CEO Brian Armstrong, who recently floated the idea of Bitcoin reaching $1 million by 2030.
At present, Bitcoin is down nearly 5% over the past month, underscoring the cautious mood among ETF investors despite growing long-term optimism.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/longest-etf-outflow-in-months-is-bitcoin-undervalued-now/