BlackRock’s Bitcoin ETF Sees $1 Billion in Outflows Amid Surge in Trading Volume
BlackRock’s spot Bitcoin (BTC) exchange-traded fund (ETF) experienced a sharp decline last week, dropping over 11% as trading volume surged to its highest level since mid-November, according to TradingView data.
More than 331 million shares of the ETF, trading under the IBIT ticker on Nasdaq, were exchanged as its price slipped below the key January support level of $50.69, eventually hitting $46.07—its lowest point since early November.
For bullish investors, this development could be concerning. In traditional market analysis, a significant price drop accompanied by high trading volume often signals a strong continuation of the trend. In this case, the increasing volume reinforces the bearish outlook for Bitcoin.
Meanwhile, data from Farside Investors shows that more than $1 billion exited IBIT last week, driven by the price downturn and a weakening CME futures basis, which sparked widespread panic selling. Other U.S.-listed Bitcoin ETFs also saw significant outflows.
Despite the sell-off, IBIT remains the largest Bitcoin ETF globally, boasting $39.6 billion in assets under management.
Trading activity intensified last Tuesday as IBIT broke below the key $50.69 support level, signaling further downside potential. The ETF’s technical outlook remains bearish as long as prices stay below this former support, now acting as resistance.
