US-based spot Bitcoin exchange-traded funds extended an outflow streak to five days on Friday, posting $103.5 million in net redemptions and about $1.72 billion pulled over the period, according to data. This occurred during a US trading week shortened by Martin Luther King Jr. Day and reflects weakening crypto demand.
The spot price of Bitcoin sits near $89,160 and has not topped $100,000 since Nov. 13, as CoinMarketCap shows. (Ed. note: the price context spans recent weeks.)
The broader market mood also cooled, with the Fear & Greed Index at an “Extreme Fear” reading of 25. Traders and analysts cite this metric when assessing retail sentiment.
Santiment described the market as in “a phase of uncertainty” and noted retail exits alongside flows into traditional assets, stated its report. “The best move is probably patience.”
Nik Bhatia of The Bitcoin Layer linked weak Bitcoin sentiment to strong metals rallies, writing on X that gold is near $5,000 and silver near $100, he wrote. “I am bullish but the painful type where fear dominates and you have to push through it,” he added.
Bob Loukas echoed the bleak mood on X and flagged potential for a countertrend move, he said. Market participants continue to watch ETF flows for signs of a directional shift.
