ETF Bitcoin Spot di Amerika Serikat mengalami arus keluar bersih sebesar 648,6 juta dolar melalui tujuh dana pada hari Senin, mencatat arus keluar harian terbesar sejak 29 Januari. Menurut data SoSoValue, ini melanjutkan arus keluar bersih total sebesar 1 miliar dolar minggu lalu, sehingga mengakhiri tren masuk bersih selama enam minggu berturut-turut. Do

The US spot Bitcoin exchange-traded fund (ETF) recorded a net outflow of $648.6 million on Monday through seven funds, marking the largest single-day net outflow since January 29. According to SoSoValue data, this continued the total net outflow of $1 billion last week, ending a six-week streak of net inflows. Dominick John (Zeus Research analyst) stated that these net outflows reflect institutional "risk-averse" positioning, driven by profit-taking, macroeconomic uncertainties, and rising US Treasury yields. Bitcoin fell below $77,000 over the weekend, influenced by renewed tensions between the US and Iran and rising oil prices due to inflation concerns, prompting institutional investors to de-risk.

## ETF Outflow Breakdown

BlackRock’s IBIT led the outflows with $448.3 million, followed by Ark & 21Shares’ ARKB, which saw a $109.6 million outflow, and Fidelity’s FBTC, with a $63.4 million outflow. Funds from Bitwise, VanEck, Invesco, and Franklin Templeton also experienced negative cash flows on the same day.

## Market Context and Macro Drivers

John explained that higher US Treasury yields have driven ETF capital outflows as global liquidity tightens and risk-free returns become more attractive. Coupled with inflation concerns, this macro environment has triggered short-term de-risking among institutional investors. The analyst noted that Bitcoin is consolidating near the key support zone of $76,000–$77,000.

John pointed out that leading stablecoins (led by USDT and USDC) have increased in market cap, indicating off-chain liquidity accumulation and preparing for potential "buy-the-dip" opportunities if prices revisit key support levels.

## Analyst Perspectives

Domiick John described this outflow as reflecting "short-term institutional risk-avoidance behavior," while also noting that "institutions remain active but more tactical, using ETFs as liquidity tools to manage exposure." He added that "capital flows now depend on interest rates and volatility, with funds still on the sidelines."

Andri Fauzan Adziima, head of research at Bitrue Research Institute, said that short-term volatility remains high, but he characterized this correction as "healthy digestion within a larger upward trend." Analysts recommend paying attention to signals from new Federal Reserve Chair Kevin Warsh, covering inflation, interest rates, and policy directions.