The U.S. spot Bitcoin ETF market is in turmoil as net outflows nearly double, fueled by growing fears over President Donald Trump’s controversial crypto reserve proposal. Bitcoin ETFs saw $143.43 million in outflows on March 4, with a Bitcoin triggering massive liquidation. While Ethereum ETFs gained $14.6 million, breaking an eight-day outflow streak.
Bitcoin ETFs See Heavy Outflows
According to Farside data, Bitcoin Spot ETFs recorded a total outflow of $143.5 million, nearly double the amount that came in the previous day’s net outflow of $74.19 million.
Leading the outflow charge, Fidelity’s FBTC and ARK 21Shares’ ARKB saw the biggest losses, with outflows of $46.08 million and $43.92 million. Franklin Templeton’s EZBC also faced heavy selling, as investors pulled out $35.71 million.
Other Bitcoin ETFs, including those from Bitwise, Invesco Galaxy, and WisdomTree, also saw funds being pulled out. However, Grayscale’s mini Bitcoin Trust recorded a net inflow of $35.77 million, slightly offsetting the losses.
Bitcoin Triggers Massive Liquidation
Meanwhile, bitcoin price has been trading around $87,620 reflecting a rise of 5.4% This sudden drop caused a wave of liquidations, with traders losing a total of $479 million in just 24 hours.
Around 159,125 traders were affected, with the biggest single liquidation happening on Binance’s XRP/USDT pair, worth $6.82 million.
Ethereum ETFs Return to Inflows
After eight consecutive days of outflows, Ethereum Spot ETFs recorded a net inflow of $14.58 million on March 4. Fidelity’s FETH led the way with $21.67 million in fresh capital, while Grayscale’s ETHE and mini Bitcoin Trust funds attracted $10.71 million and $8.46 million, respectively.
On the other hand, BlackRock’s IBIT saw an outflow of $26.27 million, but it wasn’t enough to change the overall trend.
Ethereum Price Analysis
Ethereum’s price also showed some recovery, surging 6% to trade near $2,200. However, it still faces resistance around the $2,280 level, and if it fails to break through, another decline could follow below $1900.
On the other hand, if it breaks above the $2280 resistance its price will see an uptrend to $2500.
