Selling pressure in US-listed spot Bitcoin (BTC detailed analysis) ETFs continued on Thursday. Analysts note that the cryptocurrency is heading towards one of the worst annual starts in its history. According to SoSoValue data, spot BTC ETFs experienced a net outflow of 165.8 million dollars on Thursday, bringing weekly losses to 403.9 million dollars and year-to-date (YTD) total losses to 2.7 billion dollars.
Daily flows in US spot Bitcoin ETFs this week. Source: SoSoValue
21% Drop in Spot BTC ETF Volume
Trading volume decreased by 21% weekly, falling to the lowest levels since the end of December. This decline indicates reduced investor interest and increasing liquidity pressure. BlackRock’s iShares Bitcoin Trust ETF (IBIT) led with 368 million dollars in outflows for the week; according to Farside data, Fidelity Wise Origin Bitcoin Fund (FBTC) recorded approximately 50 million dollars in outflows on Wednesday.
Daily flows in US spot Bitcoin ETFs by issuer. Source: Farside.co.uk
BTC Price at 67 Thousand Dollar Level Post-Halving
According to Drops Analytics, the BTC price is trading at around 66,000-67,378 dollars (current: 67,377.99$, +%1.08) level after the April 2024 halving. Contrary to the three- to ten-fold increases in previous cycles, Checkonchain data confirms that 2026 is a record bad annual start for BTC.
Source: Drops Analytics
Technical Indicators: RSI 35.69 Oversold
Current technical analysis: RSI 35.69 (oversold), downtrend, Supertrend bearish. EMA 20: 71,258$. Supports and resistances table:
| Level | Price | Score | Distance |
|---|---|---|---|
| S1 | 65.071$ | 75/100 ⭐ | -3.51% |
| S2 | 66.910$ | 60/100 ⭐ | -0.78% |
| R1 | 70.492$ | 73/100 ⭐ | +4.53% |
| R2 | 68.118$ | 67/100 ⭐ | +1.01% |
S1 strong support; if broken, 65K could be tested. BTC futures volume is also declining.
Institutional Accumulation and Google Searches Contradiction
According to recent news, Google searches predicting Bitcoin will go to zero are increasing, yet institutional buyers are accumulating BTC. While macro uncertainties trigger outflows, it signals long-term accumulation.
Quantum Threat: Security 7 Years Later
BIP-360 author Ethan Heilman states that Bitcoin’s transition to post-quantum security will take 7 years. This requires long-term risk analysis for ETF investors; current outflows may reflect quantum fears.
Impact on ETH and ALT Coins
BTC weakness is pressuring ETH detailed analysis. While Peter Thiel’s ETHZ tokenization move offers hope for an ETH rally, BTC dominance is limiting ALT coins.
Source: https://en.coinotag.com/record-outflow-in-us-spot-btc-etfs-27-billion-loss