Bitcoin ETFs: The Dramatic Plunge You Didn’t See Coming! 😱💸

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So, picture this: Spot Bitcoin exchange-traded funds in the U.S. just had a dramatic meltdown, like a soap opera character who suddenly realizes they’ve been dating their cousin. After a glorious 10-day streak of inflows that made us all feel like we were on top of the world with nearly $1.07 billion, they decided to take a nosedive. 🎢

According to the ever-reliable SoSoValue (because who doesn’t trust a name like that?), the 12 spot Bitcoin ETFs managed to scrape together a measly $196.48 million in net inflows last week. That’s a staggering drop of 73.6% from the previous week’s $744.35 million. Ouch! Talk about a mood swing! 😬

Now, let’s break it down: the first four days of the week were like a party where everyone showed up with snacks. We started strong with $84.17 million on Monday, followed by a series of “meh” days: $26.83 million, $89.57 million, and $89.06 million. But then, just like that friend who leaves the party early, Friday hit us with a net outflow of $93.16 million. Bye-bye, party vibes! 🎉🚪

Most of the cash was hoarded by BlackRock’s IBIT, which snagged $172 million, while Fidelity’s FBTC was like, “Hey, I’ll take $86.8 million!” Thanks for playing, guys! VanEck’s HODL managed to squeeze out $5 million, which is like finding a penny in the couch cushions. 💰

But not everyone was having a good time. ARK 21Shares’ ARKB, Bitwise’s BITB, WisdomTree’s BTCW, and Invesco’s BTCO all decided to take a collective nap, with combined outflows of $67.4 million. The rest of the BTC ETFs just sat there, looking pretty, but not doing much. 🙄

And let’s not forget that Friday’s outflow ended our 10-day inflow streak, which was the longest of the year. Analysts are saying it was a “modest” figure, which is code for “we’re not panicking yet, but we’re definitely sweating.” While there’s still demand for Bitcoin, investors are acting like they just saw a spider—cautious and ready to run. 🕷️

Meanwhile, Bitcoin’s quarterly performance is shaping up to be its worst since 2018, when it crashed by 49.7%. Right now, it’s down 11.86% at $81,939. If it keeps this up, we might as well start a support group for sad Bitcoin investors. If prices bounce back, we might just avoid a full-on crisis, but if the selling continues, we could be looking at Bitcoin dipping below $80,000. Yikes! 😳

The recent sell-off wiped out almost all of Bitcoin’s weekly gains, as investors are playing it safe ahead of President Trump’s U.S. reciprocal tariffs set to kick in on April 2. And let’s not forget the stronger-than-expected core PCE data, which has everyone wondering if the Federal Reserve will delay rate cuts. Because who doesn’t love a little market uncertainty? 🙃

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2025-03-31 10:12