Bitcoin ETFs bleed $1.1B as analysts warn of ‘mini’ bear market at pivotal moment

Bitcoin’s price is now at a “pivotal juncture” as the fate of the market cycle depends on incoming macro signals and maintaining key technical price levels.

US spot Bitcoin exchange-traded funds (ETFs) closed a third straight week in the red, deepening concerns that one of Bitcoin’s biggest institutional demand engines is stalling.

Spot Bitcoin (BTC) ETFs saw $1.1 billion in net negative outflows during the past trading week, marking their fourth-largest week of outflows on record, according to Farside Investors data.

The ETF outflows occurred during a significant correction, as Bitcoin’s price fell by over 9.9% during the past week, to trade at $95,740 at the time of writing, Cointelegraph data shows.

Bitcoin ETF flows (in USD, million). Source: Farside Investors

The recent correction marked the first pattern of an emerging “mini” bear market, according to crypto insights platform Matrixport.

“Our data showed a market losing momentum and lacking the catalysts needed for a sustained rally,” wrote Matrixport in a Friday X post, adding:

“With ETF flows weakening, OG investors reducing exposure, and macro conditions offering no immediate catalyst, the path forward remains highly dependent on upcoming policy decisions from the Federal Reserve.”

The crypto market remains in a “pivotal juncture,” as key price levels and macro triggers will determine the next significant move, according to Matrixport.