Find Bitcoin ETFs used to be the hottest thing in crypto trading, but now they’re losing steam. From April 3 to April 10, net outflows totaled $872 million, which made buyers wonder if people were losing interest in Bitcoin. Concern grew when trade days like April 11 and 14 saw net flows below $2 million. This was a tranquil time for an asset class that was once very anticipated.
Can Price Stability Be Stagnation?
Even though Bitcoin’s value has decreased, it has stayed close to $83,000 for five weeks in a row. This could mean that both bulls and bears are less interested. Some see this as a sign of adulthood, especially when compared to the 40% drop in the value of S&P 500 companies, but others see it as a sign of stagnation. On paper, Bitcoin’s 32% drop in 2025 looks like a good correction, but it hasn’t led to more bullish momentum as some had hoped.
The “Digital Gold” Comparison Fails
People are questioning the idea that Bitcoin is “digital gold.” It rose by 23% in 2025 and reached a record high of $3,245 on April 11. In contrast, Bitcoin has only done slightly better than the S&P 500 over the last 30 days, by 4%. It has also not been a hedge or a way to keep value. Its lack of correlation may help with diversification, but it also makes me wonder what part it should play in a well-rounded portfolio.
Still Strong Spot ETF Volume
A lot of people are still dealing with spot Bitcoin ETFs. Every day for the past 30 days, they’ve traded an average of $2.75 billion; on April 14, they traded $2.24 billion. Aside from being less busy than it was at its busiest, this is about the same as or higher than the trading volume for US Treasury ETFs and higher than the trading volume for gold ETFs, which trade about $5.3 billion daily.
Conclusion
Even though net losses and flat inflows are strange, they don’t always mean investors have lost faith. Instead, they may show that the market is uncertain or that there is a time of consolidation.
