Investor enthusiasm for Bitcoin ETFs cools amid three straight days of net outflows.

Bitcoin ETF Outflows Reverse Early-Year Gains as BTC Slides

Bitcoin ETFs have recorded over $1 billion in net outflows over the past three days, erasing the early-year inflows that signaled renewed investor risk appetite.

Bitcoin (BTC) $90,545.61 ETFs began 2026 strong, drawing more than $1 billion in inflows in the first two trading days. However, the 11 U.S.-listed spot ETFs have now posted a cumulative net outflow of $1.128 billion, nearly offsetting the initial gains, according to Farside Investors. Year-to-date flows are essentially flat, highlighting institutional caution and weakening early bullish momentum.

“ETF flows reflect rotation rather than conviction buying,” said Vikram Subburaj, CEO of Giottus. “Macro conditions have tightened risk appetite, and risk-off sentiment is impacting crypto alongside equities.”

Bitcoin fell from Monday highs above $94,600 to around $90,000, dipping below $89,300 at one point, while DeFi and meme tokens retraced similar gains.

Volatility may pick up Friday with the release of U.S. December nonfarm payrolls at 13:30 UTC and a Supreme Court ruling on tariffs. FactSet forecasts 55,000 jobs added, down from November’s 64,000, with unemployment falling slightly to 4.5% and average hourly earnings up 3.6% year-on-year.

These macro developments could influence Fed rate expectations and broader risk sentiment, potentially affecting Bitcoin and other risk assets.