U.S. bitcoin (BTC) exchange-traded funds (ETFs) recorded their largest weekly outflows since November in a possible sign the largest cryptocurrency may be about to rebound.
A net $1.22 billion left the market in the four days ended Thursday, with Tuesday and Wednesday seeing withdrawals of $479.7 million and $708.7 million, respectively, according to data from SoSoValue. Bitcoin dropped 5% in the same period and is now little changed since the start of the year.
Periods of heavy ETF outflows often coincide with local bottoms in the bitcoin price. In November, which also saw a four-day withdrawal of $1.22 billion, bitcoin formed a low around $80,000 before recovering to above $90,000 in the days that followed.
A similar pattern emerged in March 2025, just before President Trump’s tariff turmoil, when bitcoin dropped to $76,000. In August 2024 bitcoin bottomed near $49,000 as the yen carry trade unwound.
The average cost basis for ETF investors currently stands at $84,099. According to Glassnode data, this level has acted as a key area of support, notably during the November pullback near $80,000 as well as in April 2025.