Bitcoin ETF Outflows Erase Early-Year Gains as BTC Slips

Bitcoin ETFs have seen over $1 billion in net outflows over the past three days, wiping out the strong inflows that marked the start of 2026.

Bitcoin (BTC) $90,545.61 ETFs began the year with more than $1 billion in inflows during the first two trading days, signaling renewed investor risk appetite. That momentum has reversed sharply: the 11 U.S.-listed spot ETFs recorded a combined net outflow of $1.128 billion over the last three days, nearly offsetting early gains, according to Farside Investors. Year-to-date flows are now roughly flat, reflecting institutional caution and dampening the bullish sentiment from the opening week.

“ETF flows show rotation rather than conviction buying,” said Vikram Subburaj, CEO of Giottus. “Macro conditions have tightened risk appetite, with risk-off sentiment spilling into crypto alongside equities.”

Bitcoin fell from Monday highs above $94,600 to around $90,000, briefly dropping below $89,300. DeFi and meme tokens also retraced early-week gains.

Market volatility may increase Friday with U.S. December nonfarm payrolls due at 13:30 UTC and a Supreme Court tariff ruling. FactSet projects 55,000 jobs added, down from November’s 64,000, with unemployment dipping to 4.5% and average hourly earnings rising 3.6% year-on-year.

These macro events could influence Fed rate expectations and risk appetite, affecting Bitcoin and other risk assets.