Bitcoin spot exchange traded funds saw heavy withdrawals on March 6, with total net outflows reaching $349 million. The largest single-day withdrawal came from FBTC, which recorded $159 million in net outflows.
The fund’s cumulative historical net outflow has now climbed to approximately $153 million, reflecting growing investor caution following recent market volatility. These movements come as Bitcoin experienced a sharp price swing during the week.
Ethereum Spot ETFs Also See Investor Withdrawals
Spot ETFs tracking Ethereum also reported significant capital outflows. Total net withdrawals reached $82.85 million for the day. The largest decline came from Fidelity Ethereum Fund (FETH), which posted $67.57 million in net outflows.
FETH’s cumulative historical net outflow has now reached around $218 million, highlighting continued pressure in Ethereum-focused investment products.
Cryptocurrency Market Pullback After Weekly Surge
Bitcoin fell about 3.4% on Saturday to roughly $68,000 after briefly surging to $74,000 earlier in the week. Despite the drop, the crypto remains slightly higher overall for the week.
Several major digital assets also declined. Ether dropped 4.4% to about $1,974, Solana slipped 4% to $84.31, while Dogecoin fell 2.9% to $0.09. BNB declined 2.6% to $627, and XRP eased 2.2% to $1.37.
Market Pressures and On-Chain Signals
Market sentiment remains influenced by a strong U.S. dollar and expectations that the Federal Reserve could delay interest rate cuts.
Blockchain data also indicates that roughly 43% of the bitcoin supply is currently at a loss, which may trigger selling during price rallies. At the same time, rising stablecoin inflows suggest that sidelined capital could return to the market as geopolitical uncertainty, including tensions in the Middle East, continues to shape investor behavior.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.