Crypto markets are going through a zone of turbulence. For the fourth consecutive week, specialized funds recorded massive withdrawals. Bitcoin is faltering and falling below the symbolic mark of $70,000.
In brief
- Crypto investment products saw $173 million in outflows last week, bringing the four-week total to $3.8 billion.
- Bitcoin dominates withdrawals with $133.3 million in outflows, while assets under management fall to their lowest level since April 2025.
- The United States concentrates most of the pessimism with $403 million in outflows, contrasting with $230 million in inflows to the rest of the world.
- XRP and Solana are resisting the downtrend with $33.4 million and $31 million in inflows, respectively.
A wave of releases that does not weaken
Data released Monday by CoinShares paints a worrying picture. Crypto exchange-traded products lost $173 million in one week.
This figure is part of a negative dynamic that began almost a month ago. James Butterfill, head of research at CoinShares, points to the prevailing gloom and persistent weakness in prices.
Bitcoin, which was trading around $70,000 at the start of the week, briefly touched $65,000 on Thursday before stabilizing around $68,900.
The downward spiral particularly hits Bitcoin funds. The latter concentrate $133.3 million in weekly withdrawals. U.S. spot Bitcoin ETFs have an even bleaker record with nearly $360 million in outflows over the same period, according to data from SoSoValue.
This distrust is accompanied by a contraction in assets under management, now established at around $106 billion for bitcoin alone. The sector total stands at $133 billion, a level not seen since April 2025.
Ether is no exception to this dynamic. Funds linked to the world's second-largest crypto recorded $85 million in outflows. Nonetheless, a note of optimism remains among US spot Ether ETFs, which posted modest inflows of $10 million. This divergence illustrates the complexity of current investor sentiment, torn between caution and selective opportunism.
Geography of capital and unexpected resistance
Geographic analysis reveals a striking contrast. US products suffered massive outflows of $403 million, while all other regions combined attracted $230 million.
Germany leads the charge with $115 million in entries, followed by Canada with $46 million and Switzerland with $37 million. This divergence suggests that American pessimism does not necessarily reflect global sentiment. European and Canadian investors seem to see this as a window of opportunity rather than a signal to flee.
In this mostly gloomy landscape, two assets are doing well. XRP and Solana are performing remarkably well with respective entries of $33.4 and $31 million.
Analysts at Standard Chartered have officially lowered their forecasts for bitcoin. Their goal for 2026 goes from $150,000 to $100,000. They even anticipate a possible fall towards $50,000 before a rebound.
This objective correction reflects a recalibration of expectations in a changing macroeconomic context, marked in particular by a slowdown in American inflation which weakens the argument for bitcoin as a bulwark against monetary erosion.
The crypto market enters a decisive phase
The last four weeks mark a turning point. The $3.8 billion in cumulative outflows signal a profound revaluation of positions. Investors appear to be reconsidering their exposure as macroeconomic conditions evolve.
Volatility remains high and the feeling of “extreme fear” dominates, as indicated by the Fear & Greed index which has fallen to historic lows. This period of turbulence could nevertheless create opportunities for those who bet on the long term and believe in the fundamental resilience of cryptocurrencies.
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