Yesterday I noticed that the flow of funds into the US Bitcoin ETF suddenly reversed direction. After three consecutive days of total inflows around 1.1 billion, suddenly on Thursday, 228 million dollars flowed out as the BTC price dropped below 71,000. The largest outflow was from the iShares Bitcoin Trust at about 89 million, followed by Fidelity and Bitwise with 48 and 46 million respectively.

But overall, the US Bitcoin ETF still shows a net inflow of 9.17 billion for this month with AUM above 90 billion. So despite the daily outflows, the trend remains positive. The rise of BTC to 73,000 last week seems more like a relief rally rather than the start of a new bull run, according to analysis. Some fund managers have already warned that during this cycle adjustment, BTC could still drop to 60,000.

Ethereum ETF also outflowed 91 million that day, XRP and Solana only 6 and 5 million. This Solana ETF outflow is the first since early February, but data shows that since its launch last month, it has attracted 1.5 billion, so institutions are still serious about Solana.