Bitcoin ETFs.

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Publié le 9 July 2026

ETFs

A Historic Turning Point for Bitcoin ETF Flows

The Bitcoin ETF market has just experienced a pivotal moment. After five consecutive weeks of net outflows totaling $2.7 billion — the longest and heaviest sell-off sequence since the launch of spot Bitcoin ETFs in the United States in January 2024 — data from the most recent trading session shows a dramatic slowdown in outflows. The latest daily reading reports an outflow of just $85 million, a figure that stands in stark contrast to the hundreds of millions that were leaving the market daily in recent weeks.

This $85 million figure, while still negative, represents a drop of more than 80% compared to the average outflows of the previous two weeks. The signal is clear: the selling pressure weighing on Bitcoin ETFs is running out of steam. And if the history of financial markets teaches us one lesson, it is that flow reversals often occur when the consensus is most unanimously bearish.

The $2.7 Billion Sell-Off: Five Weeks of Pressure Reviewed

To understand the significance of this slowdown, we must first look back at the scale of the sell-off that has shaken the Bitcoin ETF market since early June 2026. Over five weeks, institutional investors withdrew nearly $2.7 billion from U.S. spot Bitcoin ETFs. This massive selling wave was fueled by several converging factors:

First, the macroeconomic backdrop played a decisive role. Fears of persistent inflation, fueled by the artificial intelligence boom and its colossal energy demands, pushed the Federal Reserve to maintain a restrictive monetary policy longer than anticipated. This tightening of financial conditions mechanically reduced institutional investors’ appetite for risk, with Bitcoin ETFs traditionally considered a risky asset within diversified portfolios.

Second, massive Bitcoin sales by Strategy (formerly MicroStrategy) added additional downward pressure. The company, which holds the largest corporate Bitcoin treasury in the world, accelerated its sales to finance its dividends and convertible bonds. Just last week, Strategy sold approximately $216 million worth of Bitcoin, amplifying the ETF outflow movement.

Third, market sentiment, as measured by the Fear & Greed Index, dropped to 22 — its lowest level in several weeks — and held there for three consecutive cycles, indicating a deep-rooting of extreme fear among investors. This context of widespread fear has traditionally preceded trend reversals in crypto markets.

Why the Latest $85 Million Outflow Changes the Picture

The key to reading this signal lies less in the absolute figure than in the trend. Bitcoin ETF capital outflows had reached daily peaks of $300 to $500 million during the darkest weeks of June 2026. Seeing this figure fall to $85 million represents a contraction of more than 80% in selling flow.

In the technical analysis of ETF flows, a slowdown in outflows is often considered a leading indicator of a reversal. The weakest institutional investors — those looking to cut their losses — have already sold. Those who remain are generally longer-term holders, less likely to sell under panic conditions.

If this trend confirms itself and flows turn positive in the coming days, we would witness a true inflection point. The history of Bitcoin ETFs shows that the accumulation periods following massive sell-offs have often been the most profitable for patient investors.

The Bitcoin Context: A $60,000 Support Level That Holds

At the time of this signal’s publication, Bitcoin is trading around $62,725, up 1.28% over 24 hours. The $60,000 support level — a major psychological threshold monitored by the entire market — has not been breached despite the massive selling pressure from ETFs. This resilience of price in the face of $2.7 billion in sales is remarkable and suggests absorption of supply by silent buyers.

The market appears to be indicating that the worst of the selling is over. Bitcoin tested the $60,000 zone without managing to break it durably, and the current stabilization around $62,000 to $63,000 could constitute a solid foundation for a rebound. Several analysts, cited by CoinTelegraph, now mention the possibility of a “textbook Bitcoin bottom” — a classic technical bottom characterized by seller exhaustion.

Historical Parallels: What Happened After Previous ETF Sell-Offs?

Since the launch of spot Bitcoin ETFs in January 2024, the market has experienced several episodes of massive selling. In March 2024, a sell-off of nearly $1 billion preceded a three-week consolidation phase before a bullish recovery. In June 2024, $1.2 billion in outflows was followed by a 25% rebound in Bitcoin over the following two months.

In August 2024, Bitcoin ETFs experienced their first negative week since launch, with $900 million in outflows, before the price of Bitcoin nearly doubled in the six months that followed, driven by the U.S. election and Chinese monetary easing. In December 2024, a new wave of $1.5 billion in outflows preceded a six-week consolidation before a recovery.

Each time, the pattern is the same: a massive sell-off fueled by fear, a gradual slowdown in outflows, then a reversal of flows coinciding with a rebound in the underlying price. The $2.7 billion in outflows over the past five weeks constitute the greatest stress test ever imposed on Bitcoin ETFs. If the trend reverses now, the episode will be studied as a textbook case of institutional flow resilience.

The Impact on the Broader Crypto Ecosystem

The potential end of this Bitcoin ETF sell-off would have repercussions well...