Bitcoin ETFs Shed $465M as Macroeconomic Jitters Bite

U.S. spot Bitcoin ETFs have reversed their seven-day inflow streak, posting net outflows for two consecutive days. According to Farside Investors, these funds shed $465 million over a two-day stretch, with BlackRock's IBIT driving most of the selling.

The reversal was attributed to macro jitters, including U.S.-Iran tensions, oil prices above $100, and potential Fed rate hikes. This move eroded nearly half of the roughly $1 billion these funds took in during the preceding seven-day streak.

Analysts tied the outflows to a lack of conviction buying, with institutions making 'tactical, phased allocations near the temporary price bottom.' Tim Sun, Senior Researcher at HashKey, warned that should rate-hike expectations continue to climb, Bitcoin could face further capital outflows and downside price pressure.