Spot Bitcoin exchange-traded funds (ETFs) in the United States experienced a significant outflow of $438.4 million on Monday, ending a five-day streak of impressive inflows totaling $3.4 billion.

Key Drivers of Outflows

The reversal was led by Bitwise’s BITB, which reported over $280 million in outflows, according to SoSoValue data. Other notable ETFs, such as Grayscale’s GBTC, saw $158.2 million withdrawn, while Fidelity’s FBTC recorded $134.7 million in outflows.

Additional ETFs, including Ark and 21Shares’ ARKB, Invesco, Valkyrie, and VanEck, also posted net outflows. Despite the downturn, BlackRock’s IBIT bucked the trend with an inflow of $267.8 million, reinforcing its position as the largest spot Bitcoin ETF, with cumulative inflows of $31.6 billion.

Grayscale’s Mini Bitcoin Trust also recorded a modest inflow of $420,460.

Market Overview

On Monday, Bitcoin ETFs collectively traded $5.6 billion, a slight increase from Friday’s $5.4 billion. Cumulative ETF inflows now stand at $30.4 billion, with total net assets valued at $102.2 billion—representing 5.4% of Bitcoin’s market capitalization.

Bitcoin’s price has retraced by 3.55% in the past 24 hours, settling at $94,515, after nearing the psychological $100,000 mark last week.

In contrast, U.S.-based spot Ethereum ETFs saw modest inflows of $2.8 million on Monday, with funds from Bitwise, Fidelity, and VanEck seeing positive momentum, while 21Shares and Grayscale reported minor outflows.

Ethereum ETF trading volumes surged to $711.2 million, nearly doubling last Friday’s $373.9 million, with cumulative inflows totaling $109 million.

Recent weeks have seen record-breaking inflows into digital asset investment products, with $3.13 billion in weekly investments—the largest ever.

  • Bitcoin:

    Dominated with $3 billion in inflows.

  • Altcoins:

    Solana led with $16 million, followed by XRP ($15M), Litecoin ($4.1M), and Chainlink ($1.3M).

  • Stablecoins:

    Inflows into Binance indicate strong investor confidence, signaling that the bull market may still have room to grow.

Alt-Season on the Horizon?

Market experts, including Ruslan Lienkha of YouHodler, suggest a shift toward altcoins as Bitcoin undergoes a corrective phase. Ethereum, the second-largest cryptocurrency, is well-positioned to benefit, especially as its correlation with Bitcoin declines.

Bitcoin’s pause, potentially driven by profit-taking, could lead to price consolidation before another push toward $100,000. Ethereum and other altcoins may gain momentum, marking the onset of a potential alt-season.

Investors are advised to monitor these shifting dynamics closely, as opportunities abound in both major cryptocurrencies and altcoins during this highly volatile phase.