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On Tuesday, all 12 spot Bitcoin ETFs faced a combined net outflow of $96.14 million. Not a single fund recorded an inflow. This marks the largest daily outflow since April 16. The drop came as Bitcoin dipped to an intraday low of $101,429.
Fidelity’s FBTC led the withdrawals, losing $91.39 million. Despite this, the fund still holds a total net inflow of $11.61 billion.
The broad outflows suggest that investors are turning cautious again. Many were watching to see if Bitcoin could break past $105,000. Some believe the lack of momentum, despite progress in global trade talks, made big investors hesitant.
Yet, not all signals are negative. In the last 24 hours, Bitcoin bounced back slightly, rising 1%. Trading activity also picked up. Open interest in BTC futures climbed to $67.47 billion, also up 1%.
This small rise points to growing confidence among traders. More are entering fresh positions, expecting gains.
In the options market, the mood is also brighter. Demand for call options is higher than puts. This shows traders are preparing for a possible upward move.
While ETF flows paint a cautious picture, BTC’s derivatives market tells another story. Traders seem ready to jump on any positive momentum. The market’s next move may depend on whether Bitcoin can hold and build on its recent gains.
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