Bitcoin ETFs Experience $277 Million Outflow as Long-Term Holders Sell

Amid a significant Bitcoin BTC price correction, spot Bitcoin ETF outflows have increased, reaching $277 million on Dec. 16. This indicates declining institutional interest. The BTC price is around $86,500 with anticipated volatility due to upcoming US CPI and BoJ rate decisions.

Bitcoin ETF Outflows

  • Spot Bitcoin ETFs recorded $277 million in outflows for the second day on Dec. 16.
  • BlackRock's iShares Bitcoin Trust (IBIT) led with $210 million in outflows.
  • Bitwise’s BITB experienced $50 million in outflows.
  • Fidelity’s FBTC was the only fund with positive inflows at $26.7 million.
  • Total trading volume remains high at $2.8 billion.
  • Total AUM across all Bitcoin ETFs dropped from $169.5 billion to $120.7 billion over 60 days.

BlackRock Bitcoin ETF trading

Long-Term Holders Selling

  • Long-term holders are selling, locking in gains rather than panic-driven sell-offs.
  • Recent sell-off by long-term holders is one of the largest in five years.
  • Sales occur near market highs, not lows.
  • Experts predict a potential 80% crash from recent highs.

Bitcoin long-term holder selloff

Upcoming macro events like the US CPI data and Bank of Japan rate hike may influence further market movements. The BoJ is expected to raise rates to 0.75%, potentially impacting Bitcoin prices as previous hikes have led to declines between 23% and 31%.