The winning streak of the Bitcoin ETF broke and the price fell
The Bitcoin (BTC) market suffered a stumble yesterday, Thursday, when the funds quoted in the stock market (ETF) in cash registered exits of 358 million dollars, breaking a streak of 10 consecutive days of positive flows in which they had accumulated 4,260 million dollars.
This movement, combined with renewed tensions in the United States tariff war bitcoin bit below $ 105,000.
Yesterday’s day marked the greatest daily departure of the Bitcoin ETF since March 11. Among the most affected funds, Fidelity Wise Origin Bitcoin Fund (FBTC) led with 166 million dollars in exitsfollowed by the Grayscale Bitcoin Trust (GBTC), which lost 107 million dollars.
Other funds, such as the ARK 21Shares Bitcoin ETF (ARKB) and the Bitwise Bitcoin ETF (BITB), recorded outputs of 89 and 70 million dollars, respectively. Withdrawals were also reported in the ETF of Vaneck (Hodl), Coinshares Valkyrie Bitcoin Fund (BRR) and Franklin Bitcoin ETF (EZBC).
However, not all funds suffered losses. Ishares Bitcoin Trust (ibit) managed by Blackrock was the exception, attracting $ 125 million in tickets, consolidating as the only ETF with positive flows in the day.
Despite this performance, the total net outings reduced the accumulated entries of the 12 ETF of Bitcoin to the cash From 45,340 million dollars on Wednesday to 44,990 million Thursday.
Impact on the price of Bitcoin
The capital withdrawal of the ETFs had a direct impact on the price of Bitcoin. These funds operate buying and maintaining bitcoin to support their actions, So the exits force managers to sell part of their holdings to cover redemptions.
This increase in supply, without an equivalent demand, exerted a bearish pressure that led BTC to be negotiated below $ 105,000, after having reached a historical maximum of $ 111,000 last week.
For its part, the macroeconomic context added more uncertainty. The comings and goings in the war of tariffs of the United States intensified caution among investors.
Yesterday morning, a Federal Court ruled that President Donald Trump has no authority under the Law of Economic Powers in times of International Emergency (IEEPA) to impose global tariffs, declaring the taxes applied since April 2 invalidas reported by cryptootics.
However, hours later, an appeal court raised the blockade on these tariffs, reviving the dispute.
To “take more firewood,” President Trump today says that China violated trade agreements:
A new layer of uncertainty
To this scenario of uncertainty for Bitcoin, the approval of the law “is addedOne Big Beautiful Bill AcT ”by the House of Representatives. According to CNBC, this legislation introduces the most significant changes in decades to the tax treatment of foreign capital in the United States.
Among its measures, an increase of 5 percentage points annually is established in US Income Taxes of Foreign Investors, What could raise the rate to 20%.
George Saravelos, Global Exchange Research Director of Deutsche Bank, said that this law “creates the margin so that the US administration transforms a commercial war into a capital war if you wish.”
In addition, he stressed that section 899 of the project uses taxation on foreign assets as a lever to promote the economic objectives of the United States, challenging the open nature of its capital markets.
Long -term bydist perspectives for Bitcoin
Despite the current uncertainty, the expectations for Bitcoin in the medium and long term remain positive. Bitcoin could reach $ 120,000 in the short term, promoted by institutional interest and market dynamics.
Bitcoin’s scarcity, with a supply limited to 21 million units, reinforces its appeal as a value reserve. In addition, its resistance to censorship and its unconfiscable nature make it a shelter in times of crisis, when governments could resort to extreme measures to finance deficits.
