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US Spot Bitcoin ETFs Record $349M Outflow as Bitcoin Pulls Back to $68,000

Spot Bitcoin ETFs in the US saw combined outflows of $349 million on Friday across all 11 products, Farside data show. The outflows coincided with Bitcoin retreating toward $68,000 after briefly reaching $74,000 earlier in the week. Crypto analytics platform Santiment reported that wallets holding 10 to 10,000 Bitcoin accumulated from Feb. 23 to March 3 in the $62,900 to $69,600 range but began selling once the price moved above $74,000, offloading about 66% of their 10-day accumulation by Friday, while wallets with less than 0.01 Bitcoin continued to buy the dip. Economist Timothy Peterson, citing the Bitcoin Price to Metcalfe Value chart, wrote on X that there is about a 99.5% chance Bitcoin stays above $60,000, noting it had tested that level on Feb. 6 after pulling back from an alltime high of $126,000 set in October.
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