Bitcoin Market Weakness Spreads as ETF Outflows Reach $308 Million

The Bitcoin market is showing signs of weakness as demand in both spot and futures markets slows. According to CryptoQuant analyst Darkfost, spot demand was at a net minus 145,000 BTC on September 11, indicating that selling pressure outweighs buying demand in exchanges.

However, futures demand remains positive, but its growth has slowed significantly. The Coinbase Premium Index, which measures institutional investor flows, turned negative with a reading of -0.036, suggesting that institutions are losing confidence in the market.

The trend is also reflected in exchange-traded fund (ETF) outflows, which reached $308 million on September 11, the largest single-day outflow in two months. Darkfost viewed this as a negative sign, given the significant share of spot demand accounted for by ETFs.