Early-month gains evaporate as Bitcoin ETFs see a three-day streak of outflows.

Bitcoin ETF Outflows Wipe Out Early-Year Gains as BTC Slides

Bitcoin ETFs have experienced more than $1 billion in net outflows over the past three days, erasing the strong inflows seen at the start of 2026.

Bitcoin (BTC) $90,545.61 ETFs began the year with over $1 billion in inflows during the first two trading days, signaling renewed investor risk appetite. That momentum has reversed sharply: the 11 U.S.-listed spot ETFs recorded a combined net outflow of $1.128 billion over the past three days, nearly canceling out the early gains, according to Farside Investors. Year-to-date flows are now essentially flat, reflecting institutional caution and undermining the bullish sentiment from the opening week.

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

Bitcoin dropped from Monday highs above $94,600 to around $90,000, briefly falling below $89,300 on Thursday, with DeFi and meme tokens retracing similar gains.

Market volatility may rise Friday with U.S. December nonfarm payrolls scheduled for 13:30 UTC and the Supreme Court tariff ruling. FactSet projects 55,000 jobs added in December, down from November’s 64,000, while the unemployment rate is expected to dip to 4.5%, and average hourly earnings rise 3.6% year-on-year.

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