Bitcoin's ETF Volume Dips to Five-Session Low Amid Wall Street's Fading Patience

Bitcoin's (BTC) price has been trading around $65,100, as Wall Street's patience is wearing thin. The spot Bitcoin exchange-traded fund (ETF) weekly trading volume has hit a five-session low since October 2024, at roughly $8.05 billion, which is a 14% drop from the previous week's $9.37 billion.

Citigroup was among the first major banks to reduce its target for Bitcoin, lowering it to $82,000 from $112,000 and Ethereum's target to $2,240 from $3,175. This decision was based on negative ETF flows and stalled U.S. digital asset legislation.

The flow data tells a more complex story, with Bitcoin ETFs experiencing net inflows of just $33.8 million last week, the lowest in three consecutive positive weeks. In contrast, Ethereum's Ether ETFs drew $103.9 million in net inflows, more than three times that of Bitcoin.

BlackRock's iShares Bitcoin Trust (IBIT) recorded $95.5 million in net outflows for the week after hemorrhaging a combined $414.7 million in the final two sessions.