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In mid-January, the US Bitcoin spot ETF market experienced a large-scale capital outflow not seen in nearly two months. Data shows that the total net outflow on a single day reached as high as $707.3 million, and market sentiment clearly shifted to caution.
The most notable was the performance of BlackRock's flagship IBIT product. This fund saw a net outflow of 3,970 Bitcoins in a single day, equivalent to approximately $355.23 million. Trading activity also increased significantly, with daily trading volume reaching around $3.6 billion.
This wave of capital outflow broke the previous stable trend. This move by institutional investors reflects some concerns about short-term market prospects and has prompted market participants to reassess the attractiveness of spot ETFs as a Bitcoin allocation tool. How it will evolve moving forward remains to be seen, and continued observation of trading data is necessary.