Spot Bitcoin ETFs experienced their largest single-day outflow in three weeks on March 5, shedding nearly $228 million. Despite the short-term pressure and Bitcoin’s price dipping below $70,000, analytics from Glassnode show a stabilizing 14-day netflow trend, signaling easing distribution. Experts are divided on the immediate outlook but point to metrics suggesting early signs of institutional re-accumulation for the longer term.
Spot Bitcoin ETFs saw outflows of nearly $228 million on March 5, marking the largest single-day exit since February 12. Bitcoin’s price concurrently retreated by over 4% from its recent high, dropping below the $70,000 mark.
Analytics firm Glassnode noted in a report that the 14-day ETF netflow trend has turned higher, smoothing out daily volatility. The firm stated the 30-day ETF position change has stabilized, signaling “easing distribution pressure.”
Experts emphasized that multi-day signals are more telling than single-day movements. “The shift from deeply negative to mildly positive and stabilizing territory signals early institutional re-accumulation,” said Andri Fauzan Adziima, research lead at Bitrue.
Justin d’Anethan, head of research at Arctic Digital, agreed that weekly trends show outflows slowing and potentially reversing. He suggested the mid-$60,000 price level “might have been a decent entry point,” at least for the current market.
Nick Ruck, director of LVRG Research, said the improving 30-day metric reflects growing long-term conviction among larger players. He cautioned, however, that “the market outlook isn’t fully revealed by ETFs alone,” noting other factors like on-chain activity and geopolitics.
Other analysts noted that macro headlines continue to influence near-term crypto prices. From a long-term perspective, however, several experts viewed the $60,000 region as a potential accumulation zone.
Users on prediction market Myriad are nearly evenly split on Bitcoin’s next major move, weighing a rise to $84,000 against a fall to $55,000. Aleksandr Nechaev, partner at Funders VC, advised a long-term view, recommending investors set aside capital for averaging down if markets slide.
