- Bitcoin‘s once-glorious inflow streak ends with a $157 million exodus—tariffs are to blame!
- QCP Capital predicts Bitcoin’s fate is to linger within a $100k-$110k range… How thrilling!
In an unexpected twist of fate, the U.S. Spot Bitcoin [BTC] inflow streak, which had been soaring since mid-April, came to a rather unceremonious end last week. A rather hefty outflow of $157 million was recorded, leaving investors scratching their heads. For six glorious weeks, these products had accumulated a staggering $9.6 billion in weekly inflows—how tragic that it all came to a screeching halt!
During this brief moment of euphoria, BTC climbed from a humble $84k to an impressive $110k. However, much to our dismay, the outflows of last week dragged BTC back below $110k. Oh, how fleeting is the joy of the markets!
Tariff Fears Reverse BTC ETF Flows
Reacting to the abrupt reversal of Spot BTC ETFs flows, CoinShares’ Head of Research, James Butterfill, lamented:
“The week began with such promise—strong inflows for Bitcoin. But alas, mid-week saw the New York Court’s ruling on U.S. tariffs, and by the end of the week, we were left with a measly $8 million in outflows.”
The unfortunate ETF outflows were spearheaded by the ever-responsible Ark 21Shares and Fidelity funds. No surprise there, it seems.
In a rather dramatic turn of events, President Donald Trump made the bold claim that China had violated their delicate May trade arrangement. As a result, U.S. tariffs on Chinese steel imports were doubled to 50%, and tech sanctions were broadened. How positively… charming!
On June 2, China—ever so poised—dismissed the accusations, though they did warn of potential countermeasures. This, of course, led to investor fears of yet another bitter tariff war. How very fashionable, yet again!
Though rumors of possible phone talks swirled in the air this week, one wonders if the macro headlines will continue to haunt Bitcoin’s fortunes in the months ahead. Such suspense!
In an intriguing, albeit slightly ominous, comment on the macro outlook, the crypto trading firm QCP Capital remarked:
“Tariff tensions will likely dominate the macro narrative throughout June, with major policy decisions expected only after July 8. Until then, the market may remain in a state of indecision—how dreadfully boring!”
The firm, ever cautious, adopted a risk-off outlook and added:
“Volatility on the frontend is subsiding, risk reversals are normalising, and perpetual funding rates have flattened. These signs, my dear readers, point to some rather dull price action ahead.”
According to QCP, Bitcoin may be doomed to hover in the $100k-$110k range—oh, the joy of stagnation!
Meanwhile, Glassnode has highlighted that profit-taking may soon put a damper on the rally. Should new buyers falter while others cash in on their gains, the rally could very well stall. A most thrilling thought, wouldn’t you agree?
“If new demand holds, the BTC rally could continue. But if it fades, the lack of momentum support and rising profit-taking could lead to short-term consolidation—how utterly riveting!”
As of the latest reports, new buyers remain steadfast (green), while profit-taking is, for the moment, somewhat moderate. But for how long?
Overall, Bitcoin appears to be in fair condition, though the specter of a market-wide rout—driven, no doubt, by macro forces—could well accelerate the sell-offs. Such delightful uncertainty!
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2025-06-03 09:20