On September 10th, there was a continued outflow of funds from US Bitcoin spot ETF, with a net outflow of $282.7 million in a single day. This marks the third consecutive trading day of net redemptions, and during the same period, the price of Bitcoin fell back to around $77,000 per coin, indicating a clear weakening in the sentiment of institutional investors.
In three days, nearly $450 million has flowed out in total.
Data shows that over the past three trading days, nearly $450 million has flowed out of US Bitcoin spot ETF. The outflow on September 10th was not concentrated in a single product but occurred across several larger funds, indicating that the scope of capital withdrawal has expanded.
On that day, MSBT was one of the few products to record a net inflow, attracting approximately $4 million in funds. Some other funds did not show any significant net changes on that day.
- Net outflow on September 10: $282.7 million
- Consecutive net outflow days: 3 trading days
- Three-day cumulative net outflow: nearly $450 million
Bitcoin once fell into the $76,000 range
In terms of prices, data from CoinCodex shows that BTC was trading at around $77,095 earlier on September 11, with a 24-hour decline of 1.76%. During that period, Bitcoin briefly reached $78,000, but then selling pressure increased, causing it to fall back down to the mid-$76,000 range at night.
Thereafter, the price returned above $77,000, but it was still lower than the previous level. The outflow of funds coincided with the decline in price, reflecting a weakening of institutional buying in recent trading days.
ETF Capital flow remains a short-term observation indicator
Judging from its recent performance, the flow of funds for ETF remains an important indicator to observe whether Bitcoin can stabilize around $77,000. If redemptions continue to increase, the market may face further downward pressure; if the outflow of funds slows down, price fluctuations may also ease accordingly.
In this round of adjustments, what is more noteworthy is the general pressure on large funds, rather than abnormal fluctuations in individual products. This indicates that the cooling down of institutional allocation demand is having a more direct impact on Bitcoin's short-term performance.
