I just noticed that BlackRock spot ETF funds experienced significant outflows last week as the market declined. Around $443 million flowed out of their Bitcoin and Ethereum products combined, which is quite substantial for institutional flows. Their Bitcoin ETF (IBIT) saw $158M outflow, but the bigger story is the Ethereum fund bleeding $285M. An interesting pattern here - the Bitcoin ETF had some inflow in March 23, suggesting some institutional buying on dips. But the Ethereum fund has been consistently outflowing all week, indicating weaker conviction. The biggest outflow day was March 27 with $201.5M from Bitcoin and over $140M from Ethereum, effectively reversing all early-week gains. On a broader view, it seems the market is truly in risk-off mode. Bitcoin dropped toward $65K support but has now risen to the $77.76K area, while Ethereum stabilized around $2.31K. This pattern of major ETF outflows usually means institutional investors are reducing exposure during uncertainty, not a bullish signal.

BTC-1.24%
ETH-1.34%
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