Financial Insights That Matter
Bitcoin BTC/USD has stabilized in Thursday morning trading, following another day of heavy spot ETF outflows on Wednesday.
What Happened: The apex crypto is trading around $86,500 at the time of writing, down 1.8% over the past 24 hours, but up from its slump below the $84,000 mark on Wednesday.
Spot ETFs saw another day of strong outflows, with BlackRock‘s iShares Bitcoin Trust Go recording its largest single-day outflow, coinciding with President Trump’s threats of new tariffs on the European Union.
According to data from SoSoValue, IBIT saw record net outflows of $418.1 million on Wednesday, surpassing its previous record of $332.6 million set on Jan. 2. Total net outflows on Wednesday tallied $754.54 million.
This outflow is part of a larger trend, with U.S. spot Bitcoin ETFs experiencing a seven-day negative streak totaling nearly $3 billion in outflows.
Despite the recent outflows, IBIT remains the largest U.S. spot Bitcoin ETF with over $40.2 billion in cumulative net inflows and $51.6 billion in assets under management.
The fund continues to dominate trading volume, accounting for 72% of Wednesday’s $5.7 billion in trading activity across all spot Bitcoin ETFs.
Read Also: Bitcoin Spin-Off Litecoin, ‘Ethereum Killer’ Avalanche Weather Crypto Meltdown, Here’s Why LTC, AVAX Are Spiking
Why It Matters: The crypto market’s downturn has been exacerbated by President Trump’s remarks threatening 25% tariffs on the European Union. As reported by the Financial Times, Trump stated that a decision has been made and will be announced “very soon,” leading to increased market uncertainty and risk-off sentiment.
In response to the market volatility, 21Shares Crypto Research Strategist Matt Mena highlighted potential positive catalysts that could reverse the trend.
Mena told The Block, “A positive regulatory tailwind, combined with strong Nvidia earnings — which signal continued AI-driven demand and boost overall risk sentiment — along with positive PCE inflation numbers this Friday, could create the perfect macro environment for bitcoin to not only reclaim its previous highs but potentially push beyond $150,000 as institutional and retail confidence surges.”
Nvidia reported solid figures in its Wednesday earnings report, with fourth-quarter revenue of $39.3 billion marking an eight-fold increase compared to 2020.
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