The outflow of over 1 billion USD from spot Bitcoin ETFs in the US during the last trading week could be a favorable opportunity to buy the world's largest cryptocurrency. According to a report by the analytical platform Santiment, these flows serve as a contrarian signal for the market. This was reported by Cointelegraph.com reporting .
Santiment analysts often consider ETF flows as a factor reflecting the sentiment of retail investors. After the Bitcoin price failed to maintain a level above 80,000 USD in May, many small investors began to lose patience. Currently, Bitcoin is trading around 75,410 USD, although it had risen to 79,052 USD on May 16.
According to the general market view, capital outflows from ETFs are assessed as a bearish signal. However, Santiment experts call this situation a healthy market correction. In their opinion, long-term outflows from ETFs have historically coincided with periods of asset accumulation for patient investors, rather than panic.
According to Farside data, a total of 1.26 billion USD has been withdrawn from 11 spot Bitcoin ETFs over the last six trading days. Nevertheless, some experts expect this trend to change soon. Specifically, ETF analyst James Seyffart noted that a total of 60 billion USD in inflows has been observed since the funds were launched and that new records will be set soon.
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