Bitcoin ETFs just erased a $5.7 billion hole, but profit-taking is swallowing the new demand
Summary
US-listed spot Bitcoin ETFs attracted more than $1.7 billion this week, reversing a $5.69 billion year-to-date outflow deficit recorded in July and bringing annual net flows to about $349 million. BlackRock’s IBIT took in roughly $1.02 billion over four sessions. The renewed demand has accompanied Bitcoin’s rise of about 35% since August, returning the average ETF holder to unrealized profit. Bitcoin briefly reached $87,265 before retreating to around $84,589 as short-term holders sent 47,600 profitable BTC to exchanges, signaling increased potential selling. Analysts say strong ETF buying can support prices but may also reflect investors chasing a rally and leave the market vulnerable if inflows slow while profit-taking continues.
