Around $1.82 billion flowed out of US-based spot Bitcoin and Ether ETFs over the past five trading days, reflecting weakening crypto sentiment as investors temporarily shifted attention toward precious metals.
According to data from Farside, spot Bitcoin ETFs recorded $1.49 billion in net outflows, while spot Ether ETFs saw $327.1 million withdrawn during the same period. The ETF outflows coincided with a short-term decline in crypto prices, even as markets showed brief signs of recovery.
Over the past seven days, Bitcoin fell 6.55% to around $83,400, while Ether dropped 8.99% to roughly $2,685, based on CoinMarketCap data.
Bitcoin ETF Outflows Reflect Short-Term Market Sentiment
Bitcoin briefly rallied earlier this month, climbing about 7% in the two days leading up to Jan. 15, driven by speculation surrounding the proposed US CLARITY Act. However, the rally quickly faded.
Despite the pullback, Jan. 14 marked the largest single-day Bitcoin ETF inflow of 2026, with investors adding $840.6 million. That surge came just before the Crypto Fear & Greed Index hit its highest level of the year, registering a “Greed” score of 61.
Market participants frequently monitor spot crypto ETF flows as a proxy for retail and institutional sentiment, using them to anticipate short-term price movements. The recent outflows suggest caution rather than a structural shift away from digital assets.
Analysts Say Bitcoin’s Long-Term Performance Is Being Overlooked
ETF analyst Eric Balchunas pushed back against the growing pessimism around Bitcoin’s recent performance compared to gold and silver, calling the outlook “short-sighted.”
He noted that Bitcoin significantly outperformed most asset classes in 2023 and 2024, while many traditional assets are only now catching up. According to Balchunas, the market quickly priced in Bitcoin’s “institutional adoption” narrative ahead of its actual implementation, forcing the asset into a consolidation phase.
As he put it, Bitcoin needed time to “take a breather so the narrative could catch up to the price.”
Meanwhile, precious metals experienced sharp volatility. Gold and silver hit record highs earlier this week, reaching $5,608 and $121 respectively, before pulling back sharply. On Friday alone, gold dropped 8% to $4,887, while silver fell nearly 27% to $84.
