Spot Bitcoin exchange-traded funds (ETFs) have logged outflows for ten consecutive trading days, with total net redemptions exceeding $2.97 billion since May 15, a streak that one analyst says may signal a market bottom is near.
According to data from SoSoValue, daily outflows ranged from $70 million to $733 million across the period, with the steepest single-day exodus recorded on Wednesday at $733.43 million. Total net assets held across spot Bitcoin (BTC) ETFs have dropped from $104.29 billion on May 15 to $94.17 billion as of Friday, a decline of roughly $10 billion in two weeks.
The current streak broke the previous record of eight consecutive outflow sessions, which was recorded in early last year and saw $3.2 billion in withdrawals, on Thursday, before extending to 10 days on Friday.
Spot Bitcoin ETFs have become a major gauge of institutional demand since their US launch. Large inflows have historically signaled growing optimism and increased demand, while heavy outflows reflect fear and de-risking.
Related: Bitcoin ETFs Turn Negative as IBIT Posts Near-Record Losses
Bitcoin ETF outflows signal ‘peak fear’
Crypto analytics firm Santiment Intelligence said the sustained outflows may suggest the market bottom is nearing an end. “History has shown that extreme ETF outflows typically work well as a contrarian indicator, since prices move opposite to trader expectations,” Santiment wrote on X.
In a Friday post on X, the platform argued that when large amounts of money leave Bitcoin ETFs over a short period, it reflects ‘peak fear, frustration, or risk aversion’ among investors.
Source: Santiment Intelligence
The firm pointed to the nearly $904 million single-day outflow recorded in November 2025, which occurred close to a major market low before prices recovered. “Consider the massive level of money moving out as a sign that we are getting closer to the local bottom some patient investors have been waiting for,” it added.
Related: Bitcoin ETFs on Brink of Net Outflow Territory For 2026
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