Bitcoin has corrected around 6% since surpassing its all-time high on Nov. 13.
U.S.-listed bitcoin (BTC) exchange-traded funds (ETFs) recorded their third-largest outflows on Thursday, with $400.7 million withdrawn, according to Farside data.
During the trading session, bitcoin’s price fluctuated between a low of $86,600 and a high of nearly $92,000. The recent pullback follows the cryptocurrency’s record-breaking climb to over $93,000, and such corrections are often seen as investors lock in profits after major rallies. Over the past three days, $15 billion in profits has been realized, per Glassnode data. Bitcoin remains up more than 25% since Donald Trump won the U.S. presidential election earlier this month.
Notably, ETF flows were mixed across providers. BlackRock’s IBIT continued to attract investors with $126.5 million in inflows since Nov. 7. In contrast, Fidelity’s FBTC experienced outflows of $179.2 million, while Bitwise’s BITB saw $113.9 million withdrawn. Ark’s ARKB lost $161.7 million, and combined Grayscale products shed $74.9 million.
Thursday marked the third-worst day for bitcoin-linked ETFs in terms of outflows. The other two instances were on Nov. 4 ($541.1 million) and May 1 ($563.7 million). Both events coincided with significant market bottoms: bitcoin rebounded from $67,000 after the November outflow, rallying to its current highs, and the May pullback aligned with a low just under $60,000.
These patterns raise speculation that Thursday’s ETF outflows could similarly signal a price bottom, setting the stage for another potential rally.
Meanwhile, ether (ETH) ETFs also saw notable movement, registering their first outflows in nearly two weeks as $3.2 million was withdrawn.
