Bitcoin Spot ETFs See $13.3 Million Inflow, Ending Seven-Day Outflow Streak

On March 12, Bitcoin spot ETFs experienced a net inflow of $13.33 million, marking a significant rebound after seven consecutive days of outflows.

The uptick in inflows helped boost the cumulative total net inflow to $35.42 billion, according to data from SoSoValue.

The daily total net inflow came at a time when Bitcoin ETFs had been facing negative momentum.

For example, the previous day, March 11, saw a net outflow of $371 million, following a similar trend in earlier days.

BlackRock’s IBIT Sees Outflows

iShares Bitcoin Trust (IBIT) by BlackRock experienced an outflow of $47.05 million.

Fidelity Physical Bitcoin ETP (Primary Ticker FBTC) remained stable with no inflows or outflows.

Grayscale Bitcoin Trust ETF also faced a small outflow of $11.81 million. On the other hand, ARKB (Ark & 2) recorded an inflow of $82.60 million, while BTC (Grayscale) saw an inflow of $5.51 million.

Smaller funds like BITB, HODL, and BRRR had modest inflows, highlighting mixed sentiment in the market.

As of the same day, the total value traded reached $2.01 billion, and the net assets of the spot ETFs amounted to $92.45 billion, which is 5.61% of the total Bitcoin market cap.

Meanwhile, Ethereum spot ETFs saw a net outflow of $10.4 million on March 12, adding to the recent string of negative inflows.

On March 12, Bitcoin Spot ETFs recorded $13.3 million net inflows.

Ethereum ETFs recorded $10.3 million net outflows. pic.twitter.com/woqE92SoKP

ETHA (BlackRock Ethereum ETF) showed no inflows or outflows, maintaining a steady cumulative net inflow of $4.20 billion.

ETHE (Grayscale Ethereum Trust ETF) experienced a small outflow of $3.54 million, reducing its cumulative total net inflow to $606.14 million.

Furthermore, FETH (Fidelity Ethereum ETF) recorded a modest inflow of $3.75 million, bringing its cumulative net inflow to $1.43 billion.

ETHW (Bitwise Ethereum ETF) remained stable, with no inflows or outflows, keeping its cumulative net inflow at $320.26 million.

Similarly, ETHV (VanEck Ethereum ETF) showed no movement in terms of inflows or outflows, maintaining its cumulative inflow of $136.39 million.

The total value traded across all Ethereum spot ETFs for the day was $299.41 million, with total net assets amounting to $6.66 billion, representing 2.92% of Ethereum’s market cap.

Ethereum has faced record active selling over the past 3 months. pic.twitter.com/xSRswYMneq

Bitcoin Panic Selling Accelerates as Price Drops

Bitcoin investors who bought at its all-time high of $109,000 in January are now panic-selling as prices decline, according to on-chain analytics firm Glassnode.

The firm warned that continued selling pressure could push Bitcoin’s price down to $70,000.

Glassnode claimed that recent sell-offs from top buyers have led to “intense loss realization and a moderate capitulation event.”

This trend is evident in the short-term holder realized price—an average purchase price for those who have held Bitcoin for less than 155 days.

The firm also pointed out that short-term holders are “deeply underwater” between the $71,300 and $91,900 price levels, making $70,000 a possible bottom if the selling pressure continues.

“The probability of forming a temporary floor in this zone is meaningful, at least in the NEAR term,” Glassnode added.