ETF Outflows And Liquidations Shake Bitcoin Market

Bitcoin shows a clear slowdown after several weeks of gains supported by institutional flows. American spot ETFs recorded $268 million of net outflows in one session, while liquidations accelerate in the derivatives markets. This renewed tension comes as investors are already watching another key factor: the future direction of the US Federal Reserve and its potential impact on the crypto market.

Bitcoin ETFs trigger a sharp stop

Bitcoin lost momentum after a marked rejection below $82,500, while investors withdrew $268 million from American Bitcoin spot ETFs in a single session. This break follows four consecutive days of positive inflows and coincides with a sharp deterioration in sentiment on derivatives markets.

Thus, nearly $270 million of long positions were liquidated in 24 hours, a sign of a market that has become more vulnerable in the short term. Despite this sharp fall, some analysts call for putting the scale of the movement into perspective. Recent capital outflows from Bitcoin spot ETFs do not necessarily mean the market is entering a bearish phase.

Some indicators illustrate the current tension in the market :

• $268 million in net outflows from American Bitcoin spot ETFs ;
• $270 million in long positions liquidated within 24 hours ;
• A long/short ratio on OKX falling from 1.20 to 0.27 in ten days ;
• A 31 % decrease in Coinbase’s quarterly revenues compared to the first quarter of 2025 ;
• A 47 % drop in crypto revenues at Robinhood.

This contraction in retail investor activity fuels doubts about Bitcoin’s ability to maintain its growth rate without immediate new catalysts. Investors now seem to be waiting for a clearer signal before taking aggressive positions back in the market.

The Fed and the Dollar Already Fuel a New Bullish Scenario

Alongside the tensions observed on ETFs and derivatives products, several macroeconomic signals continue to feed positive expectations around Bitcoin. The weakening of the US dollar against major international currencies mechanically increases the appeal of rare or alternative assets. The continuous rise of US debt is also closely monitored by institutional investors seeking assets capable of resisting monetary devaluation in the long term.

It should be noted that market attention is also focused on the future direction of the US Federal Reserve. Traders are beginning to anticipate the arrival of Kevin Warsh at the head of the Fed after Jerome Powell.

This hypothesis gains momentum in a context where several market players already speculate on a looser monetary policy in the coming months. Thus, some investors also mention the possibility of a future strategic reserve of bitcoins in the United States.

The slowdown observed on American ETFs is therefore not enough, for now, to invalidate Bitcoin’s structural momentum. Between short-term tensions and long-term macroeconomic bets, the crypto market seems to be entering a phase where each Fed statement and each institutional move could now tip investor sentiment.

Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.