U.S. Bitcoin ETFs Shed $410 Million As BTC Remains Stuck Below $70,000 ⋆ ZyCrypto

U.S.-listed spot Bitcoin exchange-traded funds (ETFs) notched their second consecutive session of outflows on Thursday, as the leading cryptocurrency erased its bounce from last week’s crypto crash, momentarily returning to the $65,000 area.

The 11 Bitcoin funds recorded $410.4 million in outflows amid heightened macro jitters, extending the two-day losses to $686 million, according to SoSoValue data.

The exodus was led by BlackRock’s IBIT, which saw $158 million in redemptions. Fidelity’s FBTC logged outflows totaling $104.13 million, while investment products from Grayscale and Bitwise together saw approximately $65 million in redemptions.

Despite the near-term selling pressure, the broader institutional presence of these products remains significant. Since launching two years ago, U.S. spot Bitcoin ETFs have attracted total net inflows of $54.31 billion. According to SoSoValue, the funds now hold combined net assets equivalent to 6.3% of Bitcoin’s overall market capitalization.

Bitcoin’s Real Test Ahead: Analyst Points To Possible $50K Bottom

After briefly dipping to $65,243 earlier, Bitcoin was trading for $66,985 at publication time, reflecting a 1.6% decline over the past 24 hours, according to CoinGecko.

On Thursday, the widely monitored Crypto Fear & Greed Index published by Alternative fell to a reading of 5, signaling extreme fear among market participants — a level deeper than those recorded during the major market downturns of 2022 and the 2020 pandemic-driven crash.

Adding to market concerns, longtime crypto bull Geoff Kendrick of Standard Chartered sharply reduced his 2026 price targets for Bitcoin, Ether, Solana, BNB, and Avalanche, while cautioning that Bitcoin could decline to as low as $50,000.

“We expect further price capitulation over the next few months,” Kendrick wrote in a Thursday report. “Once those lows are reached, we expect a price recovery for the remainder of the year,” he added, projecting year-end prices for BTC and ETH at $100,000 and $4,000, respectively.

Bitcoin rose to nearly $98,000 in mid-January after a two-week advance from around $87,000. The subsequent decline toward $60,000 was accompanied by notable outflows from spot Bitcoin ETFs, as investors withdrew significant capital during the pullback.

Despite volatility, investor sentiment toward Bitcoin’s longer-term outlook appears relatively stable, as reflected in the resilience of spot ETF assets under management (AUM).

Data from Checkonchain indicate that the combined AUM of the 11 spot Bitcoin ETFs has declined by approximately 7% since early October, from 1.37 million BTC to 1.29 million BTC. Over the same period, Bitcoin has retreated more than 46% from its October 2025 peak above $126,000.