①Last week, more than 290 million US dollars flowed out of spot Bitcoin ETFs, mainly due to large-scale redemptions from funds such as Blackrock IBIT; ②Some market analysts pointed out that the market is clearly showing a risk-averse trend at present; ③The analyst also stated that if there are no tangible measures to ease the current situation, the market will remain cautious, and future market fluctuations may become more severe.
Cailian Press, March 30 (edited by Zhou Ziyi) Last week, over 290 million US dollars flowed out of Bitcoin exchange-traded funds (ETFs), reflecting a continued risk-averse trend in global markets amid escalating geopolitical and macro pressures.
According to data from Farside Investors, during the week from March 24 to March 27, weekly outflows amounted to approximately 296 million US dollars due to large-scale redemptions from Blackrock IBIT and other major funds.
IBIT experienced the largest single-day volatility, with an outflow of approximately 225.5 million US dollars on Friday (March 27). Josh Gilbert, a market analyst at eToro, noted that 'the market is clearly exhibiting a risk-averse posture.'
Gilbert stated, "Macroeconomic factors hindering this process are intensifying. The rise of oil prices to triple-digit levels has triggered concerns about inflation, further delaying expectations of interest rate cuts. This has also eliminated the essential conditions required for risk assets to findsupport level,support."
This week, geopolitical risks have further escalated. US President Donald Trump stated that he could 'seize Iran's oil resources' and potentially occupy Kharg Island, a key oil export hub.
In response, Gilbert warned that if there are no substantial measures to ease the current conflict, the market will remain cautious, and future market volatility may become more intense.
Still within normal thresholds
From the perspective of Bitcoin’s price performance, although Bitcoin has fallen to its lowest point in three weeks, it has performed better than equities. By comparison, the S&P 500 index also suffered its fifth consecutive week of decline — the longest downturn since 2022.
Peter Chung, Director of Research at Presto Labs, stated that risk aversion was the main driver behind last week’s outflows, though he noted that the scale last week did not seem particularly large compared to recent trends.
Chung added, 'I believe the reason for this situation is a widespread risk-averse sentiment, as expectations for a ceasefire agreement have gradually diminished with peace talks reaching an impasse over the weekend.'
Pratik Kala, Director of Research at Apollo Crypto, expressed a similar view, attributing the outflows to 'risk-averse sentiment and quarter-end portfolio rebalancing,' while noting that the figure of $290 million is 'quite normal.'
Kala stated that Bitcoin's relative outperformance compared to other asset classes 'remains significant and highly supportive,' cautioning against interpreting weekly fund flow data as structurally meaningful.
Kala explained, 'Inflows and outflows of exchange-traded funds are not simply one-way movements—hedge funds engage in substantial arbitrage trading. Therefore, there are no strict limits or thresholds that indicate structural changes.'