Massive fund outflows from ETFs and liquidations are weakening Bitcoin!

Bitcoin is marking a clear slowdown after several weeks of growth supported by institutional flows. U.S. spot ETFs saw $268 million in net outflows in one session, as liquidations accelerate across derivatives markets. This renewed tension comes as investors are already monitoring another key factor: the future direction of the US Federal Reserve and its potential impact on the crypto market.

Bitcoin ETFs trigger abrupt halt

Bitcoin lost momentum after a sharp rejection below $82,500, as investors withdrew $268 million from US Bitcoin spot ETFs in a single session. This break comes after four consecutive days of positive entries and coincides with a sharp deterioration in sentiment on derivatives markets.

Thus, nearly $270 million in long positions were liquidated in 24 hours, a sign of a market that has become more vulnerable in the short term. Despite this brutal decline, some analysts are calling for the scale of the movement to be put into perspective. Recent capital outflows from spot Bitcoin ETFs do not necessarily mean that the market is entering a bearish phase.

Some indicators illustrate the current tension on the market:

• $268 million in net outflows from US spot Bitcoin ETFs;
• $270 million in long positions liquidated in 24 hours;
• A long/short ratio on OKX fell from 1.20 to 0.27 in ten days;
• 31% drop in Coinbase quarterly revenue compared to Q1 2025;
• The 47% decline in crypto revenue at Robinhood.

This contraction in the activity of individual investors fuels doubts about the ability of bitcoin to maintain its pace of progression without new immediate catalysts. Investors now appear to be waiting for a clearer signal before resuming aggressive positions in the market.

The Fed and the dollar are already fueling a new bullish scenario

In parallel with the tensions observed on ETFs and derivative products, several macroeconomic signals continue to fuel positive expectations around bitcoin. The weakening of the US dollar against the main international currencies mechanically strengthens the attractiveness of rare or alternative assets. The continued rise in US debt also remains closely monitored by institutional investors looking for assets capable of resisting monetary devaluation over the long term.

It should be noted that the market's attention is also focused on the future direction of the US Federal Reserve. Traders are starting to anticipate the arrival of Kevin Warsh as head of the Fed after Jerome Powell.

This hypothesis is gaining momentum in a context where several market players are already speculating on a more flexible monetary policy in the coming months. Thus, some investors are also raising the possibility of a future strategic reserve of bitcoins in the United States.

The slowdown observed on American ETFs is therefore not enough, for the moment, to invalidate the structural dynamics of bitcoin. Between short-term tensions and long-term macroeconomic bets, the crypto market seems to be entering a phase where each Fed statement and each institutional movement could now shift investor sentiment.