Spot Bitcoin ETFs in the United States continued their outflow streak on February 27 as Bitcoin fell below $80,000, driving risk-off sentiment across the broader crypto market.
Cryptocurrency Market Decline
On February 27, spot Bitcoin ETFs recorded net outflows of $275.83 million, extending the negative flow streak to eight consecutive days, during which over $3.2 billion exited the funds.
ETF Outflows and Inflows Data
During this period, BlackRock’s IBIT experienced its highest outflow day with $418.06 million in redemptions. On February 27, BlackRock’s IBIT lost $189.02 million, followed by WisdomTree’s BTCW with $53.78 million in outflows. Bitwise’s BITB bucked the trend with $17.65 million in inflows, while other ETFs saw negative flows as follows: - Valkyrie’s BRRR: $12.82 million - VanEck’s HODL: $10.58 million - Grayscale’s GBTC: $7.26 million - Fidelity’s FBTC: $7.25 million - Franklin Templeton’s EZBC: $7.23 million - Grayscale’s Mini Bitcoin Trust: $5.54 million Meanwhile, nine Ethereum ETFs recorded $71.08 million in net outflows, continuing the negative momentum for the sixth day.
Impact of Global Economic Factors
Major cryptocurrencies faced declines amid decreasing market confidence due to global economic uncertainties. Bitcoin dropped to $79,561, a significant fall from its previous $109,000 high last month. Statements from the newly elected U.S. President Donald Trump regarding protectionist policies and tax cuts have raised concerns about inflation and high Federal Reserve interest rates, contributing to market volatility.
The intensification of trade disputes and global economic instability continue to impact markets, heightening volatility and negative sentiment among investors, particularly in the cryptocurrency sector.
