Overview
- Farside data reported $205.5 million in net outflows on Thursday, taking U.S. spot Bitcoin ETFs to a three‑day total of $934.8 million as risk appetite cooled.
- Bitcoin briefly fell to about $89,200 before steadying near $91,000, with traders highlighting support around $89,000–$90,000 and resistance near $92,000–$93,000.
- Flows were uneven across issuers, with BlackRock’s IBIT posting a $228.7 million inflow as Fidelity’s FBTC (-$312.2 million) and Grayscale’s GBTC (-$83.1 million) led redemptions, according to SoSoValue.
- Glassnode flagged a dense breakeven zone from roughly $92,100 to $117,400 and a short‑term holder cost basis near $98,900, while options call skew turned negative, signaling near‑term consolidation.
- JPMorgan said the sell‑off may be nearing a bottom as ETF flows even out, and despite this week’s pullback, cumulative ETF assets remain large, though trackers disagree on exact outflow totals.