US spot Bitcoin ETFs record $349M outflows as whales sell

US spot Bitcoin ETFs lost $349M on Friday. Price slipped back toward $68k after a $74k spike.

Outflows hit all 11 funds. Source: Farside.

Whales sold into strength. Santiment tracked wallets with 10–10,000 BTC. They accumulated Feb 23–Mar 3 at $62.9k–$69.6k. After $74k on Wednesday, they sold. By Friday they had exited about 66% of those buys.

Retail bought the dip. Wallets under 0.01 BTC added as price fell. “When retail buys while whales sell, it typically signals that the correction is not yet over,” Santiment wrote.

Fear spiked. The Crypto Fear & Greed Index dropped six points to 12 on Saturday, an Extreme Fear reading. Source: alternative.me.

A counterpoint emerged. Economist Timothy Peterson cited a Price-to-Metcalfe chart and argued $60k has held as a cycle bottom. Chart: TradingView.

Headline: US spot Bitcoin ETFs lose $349M as whales sell 66%