Bitcoin ETFs See Record Outflows as Institutions Dump BTC, Price Nears $61K
Institutional Bitcoin demand has cratered to its lowest point since 2020, with ETFs leading a historic sell-off. New whale wallets are drowning in losses as BTC eyes $61,000 support.
Forget accumulation, institutions are puking Bitcoin. Net institutional buying has hit a record -464%, the worst reading since 2020. This isn't a trickle; it's a flood of selling, with ETFs dumping over 460% of daily mined supply every single day. The party's over for now.
US spot ETFs, once the darling of Wall Street, have seen their balances slashed from a $160 billion peak to around $75 billion. BlackRock's IBIT and Grayscale's GBTC are bleeding assets, with 13 straight days of outflows wiping out $4.3 billion. This isn't isolated; it's a broad-based unwind across the board.
Newer whale wallets are feeling the heat, sitting on $2.5 billion in realized losses as Bitcoin crumbles towards $61,000. These are the institutions that piled in at higher prices, and they're now capitulating. Older whales are sitting tight, but the pain is concentrated among recent, high-cost buyers.
Bitcoin is flirting with the $61,000 psychological support. A break below opens the door to the low $50,000s, potentially triggering a deeper capital drain. Until net flows turn positive, sellers are in control and the bears are feasting.