Bitcoin ETFs Suffer Two-Day Outflow Streak Amid Price Pressure
U.S. spot Bitcoin ETFs saw significant outflows on September 8 and 9, totaling $147.3 million. Despite the two-day withdrawal streak, the month remains positive overall, with net inflows nearing $622.7 million. Grayscale's GBTC led the selling on September 8, while BlackRock's IBIT and Bitwise's BITB still attracted fresh capital.
The outflows followed a strong start to the month, with Bitcoin ETFs recording their largest single-day inflow since January on September 3, amounting to $730.9 million. However, flows weakened after the U.S. holiday weekend, with Grayscale's GBTC recording about $65.5 million in outflows.
The cryptocurrency's price also faced pressure, slipping below $80,000 earlier in the week before trading around $79,000 on September 9. Investors assessed inflation risks and the outlook for U.S. interest rates, leading to renewed price pressure.
Markets are watching the Federal Reserve's September 16 policy decision, which could shape near-term Bitcoin ETF demand. The upcoming inflation data, Treasury yields, oil prices, and the Federal Reserve decision remain central market factors that may guide institutional investors' allocations.