Spot Bitcoin ETFs saw approximately $562 million in inflows on Monday, breaking a four-day outflow streak. This came as Bitcoin’s price rebounded above $79,000 after dipping below $75,000 over the weekend. Analysts note the ETF flow cost basis, around $84,000, may now serve as near-term support, while year-to-date net outflows for the products stand at $1 billion.
Spot Bitcoin exchange-traded funds (ETFs) recorded an inflow of about $562 million on Monday, ending a four-day streak of outflows. This recovery occurred as Bitcoin surged to an intraday high above $79,000 following a weekend dip below $75,000.
Total outflows for spot Bitcoin ETFs have reached $1 billion year-to-date, according to data from SoSoValue. This net figure results from $4.6 billion in outflows being partially offset by $3.6 billion in inflows. In contrast, spot Ether ETFs posted minor outflows of $2.9 million on the same day.
Alex Thorn, head of research at Galaxy Digital, stated that Bitcoin is trading 7.3% below the average ETF create cost basis of $84,000. “BTC hasn’t traded below the average ETF create cost basis since summer and early fall 2024,” Thorn noted, suggesting this level could act as near-term support. He also referenced Bitcoin’s realized price of $56,000 as a historical support level during bull markets.
James Butterfill, head of research at CoinShares, cited unfavorable capital flows and geopolitical tensions as near-term pressures. “In the long term, however, the outlook remains constructive, as structural concerns about currency depreciation persist,” Butterfill added. His firm reported crypto exchange-traded products shed $1.7 billion last week, doubling outflows from the prior week.
