Recent developments in the U.S. bitcoin exchange-traded funds (ETFs) have raised eyebrows in the cryptocurrency market, as the funds experienced their largest weekly outflows since November. This has led to speculation regarding a potential rebound for the leading cryptocurrency. During a four-day period that concluded on Thursday, a net total of $1.22 billion exited the market, highlighted by withdrawals of $479.7 million on Tuesday and $708.7 million on Wednesday, according to data compiled by SoSoValue.
In the same timeframe, bitcoin’s price dipped by 5%, and it remains roughly unchanged since the beginning of the year. Historically, significant ETF outflows have often occurred at pivotal moments, hinting at possible local price bottoms for bitcoin. Notably, a similar instance was observed in November, where another four-day withdrawal of $1.22 billion corresponded with the cryptocurrency reaching a low point around $80,000, after which it rallied above $90,000 within days.
Market analysts are drawing parallels to past events, such as in March 2025, when bitcoin fell to $76,000 amid macroeconomic pressures from President Trump’s tariffs. Earlier still, in August 2024, the cryptocurrency bottomed out near $49,000 as the yen carry trade unwound.
Another point of interest is the average cost basis for ETF investors, which currently stands at $84,099. Glassnode data indicates that this price point has historically acted as a critical area of support. This was notably evident during the November downturn near the $80,000 mark and again in April 2025.
As the market observes these trends, many will be closely watching to see if the current fluctuations signal a considerable shift in bitcoin’s trajectory, possibly marking the beginning of a recovery period.
