Bitcoin ETFs post $263M outflows as BTC drops below $77K after nine-day inflow streak

US-listed spot Bitcoin exchange-traded funds registered their first net outflows in nine trading sessions on Monday as BTC price action slipped below the $77,000 threshold. Data compiled by Woofun AI shows that Bitcoin ETFs experienced $263 million in net outflows, marking the first negative flow since mid-April. This reversal follows a period where spot ETFs accumulated $2.1 billion in inflows since April 13, coinciding with a roughly 10% appreciation in BTC value.

Concurrently, the Crypto Fear & Greed Sentiment Index shifted into Neutral territory with a score of 47 on Monday, the first such occurrence in three months, before flipping back to Fear on Tuesday as BTC failed to sustain a rally above $80,000.

The distribution of Monday's capital withdrawal was heavily concentrated, with the Fidelity Wise Origin Bitcoin Fund (FBTC) accounting for the majority of the losses at $150 million in outflows. The Grayscale Bitcoin Trust ETF (GBTC) and the ARK 21Shares Bitcoin ETF (ARKB) followed with outflows of approximately $47 million and $43 million, respectively. In contrast, BlackRock's iShares Bitcoin Trust ETF (IBIT) and the Morgan Stanley Bitcoin Trust ETF (MSBT) recorded flat flows, halting their multi-day inflow streaks. Negative sentiment also permeated the Ethereum sector, where spot Ether ETFs posted $50.5 million in outflows, while XRP and Solana ETFs recorded zero inflows.

The broader market context for Bitcoin's April rally was defined by institutional demand significantly outpacing mining supply. Michael Saylor's Strategy alone purchased 56,235 BTC in April, while global ETFs added another 34,552 BTC on behalf of clients during the same period. This accumulation contrasts sharply with the estimated 11,829 BTC mined so far this month, . Woofun AI notes that this supply-demand divergence created a fragile equilibrium that was quickly tested by recent price volatility.

CryptoQuant analyst XWIN Japan attributed the sharp decline over the past few days not to a spot supply-demand imbalance, but to a classic liquidity event triggered by forced liquidations of leveraged long positions. Earlier analysis from CryptoQuant suggested that a rejection of the $80,000 level would signal significant overhead supply at that price point. Such a rejection potentially extends the drawdown for both ETF investors and short-term whales, creating a feedback loop of selling pressure. Woofun AI analysis suggests that the current market structure indicates a shift from accumulation to distribution as liquidity constraints tighten around key resistance levels.