- Bitcoin ETFs saw $56.23 million in outflows on April 30, ending an eight-day inflow streak as Bitcoin fell below $95,000 due to weak U.S. economic data and concerns over Trump’s proposed tariffs.
- Investor caution grew amid fears of stagflation, with broader markets and risk assets like Bitcoin and tech stocks also taking a hit.
U.S. spot Bitcoin ETFs ended April on a sour note, snapping an eight-day inflow streak and signaling growing investor caution as Bitcoin tumbled below the key $95,000 support level. The shift came amid heightened concerns over weak U.S. economic data and renewed trade tensions driven by former President Donald Trump’s proposed tariffs.
ETF Outflows Trigger Red Flags for Market Sentiment
According to data from SoSoValue, the 12 spot Bitcoin ETFs saw combined outflows of $56.23 million on April 30. The pullback marks a reversal from the previous $4 billion inflow streak and points to a sudden shift in sentiment.
Fidelity’s FBTC led the withdrawals with $137.49 million exiting the fund, closely followed by ARK & 21Shares’ ARKB, which lost $130.79 million. Grayscale’s GBTC and Bitwise’s BITB also saw notable outflows, shedding $31.96 million and $23.02 million, respectively.
However, not all ETFs suffered losses. BlackRock’s IBIT, the largest in terms of net assets, defied the trend with a strong $267.02 million inflow—providing a partial cushion to the overall decline. Other ETFs remained inactive on the day, with no inflows or outflows reported.
Trading activity remained high, with total ETF volume hitting $2.39 billion. Despite the recent outflows, the cumulative net inflows since the launch of these ETFs now stand at $39.14 billion.
Macroeconomic Jitters Shake Confidence
Bitcoin’s dip below $95,000 came on the heels of disappointing economic news. The April ADP employment report showed only 62,000 new private sector jobs, the weakest since July 2024 and well below the forecasted 108,000.
Adding to the gloom, the first Q1 GDP estimate came in at -0.3%, defying expectations of +0.2%. Analysts attribute much of this decline to a 41% surge in imports, driven by businesses rushing to stockpile goods ahead of Trump’s proposed tariffs on Chinese and European imports.
These protectionist policies have raised fears of stagflation—low growth paired with high inflation—which could tie the Federal Reserve’s hands on interest rate cuts. That uncertainty has triggered a broader sell-off across risk assets, including tech stocks and Bitcoin, which briefly dipped to $93,438 before showing signs of recovery.
With economic anxiety mounting and policy uncertainty in the air, investors are treading cautiously—especially in volatile sectors like cryptocurrency.
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.
