Bitcoin ETFs Lose Nearly $1 Billion—And People Are Freaking Out 😱

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“Bitcoin ETFs Lose Nearly $1 Billion—And People Are Freaking Out 😱”

Bitcoin ETFs Lose Nearly $1 Billion—And People Are Freaking Out 😱

So, apparently, spot Bitcoin ETFs have had a catastrophic day—not just bad, but “oh no, my portfolio!” kind of bad—with almost $1 billion worth of Bitcoin doing an unceremonious disappearing act. Yep, data from the analytics pros over at Spotonchain showed that $937.9 million in BTC got up, left eleven exchange-traded funds, and presumably went out for milk 🍶 or something. 🧐

Bitcoin ETFs and the Great Escape 🎭

Leading the pack of devastation, Fidelity’s FBTC saw a staggering $344.7 million vanish into the crypto ether (oof, Fidelity, oooof). And just in case BlackRock hadn’t heard enough bad news lately, their IBIT fund slouched off with a $164.4 million withdrawal. Bitwise and Grayscale? Yep, $88.3 million and $88.5 million, respectively. Looks like nobody wanted to be the “winner” today. 🏴‍☠️

Curiously absent from these stats is ARKB, run by the irrepressible Cathie Wood. Spotonchain hinted in their lovable cryptic style that ARKB might also have joined this wallet-emptying fiesta. Classic “I’m not saying it’s aliens, but…” energy. 🤷‍♀️

[ATTENTION] A massive 🔴$937.9M just flowed out of U.S. 🇺🇸 BTC ETFs—the LARGEST since launch!

👉 This includes the largest outflow ever from Fidelity’s FBTC and the fifth-largest outflow from BlackRock’s IBIT.

👉 This figure does not include 21Shares’ ARKB data, which may also…

— Spot On Chain (@spotonchain) February 26, 2025

In the midst of all this chaos, Bitcoin’s price decided to make things extra exciting by spiraling down below the $90,000 mark for the first time in months. 😂 (Markets: Always here for your dramatic entertainment needs.) On the bright side, it seems Bitcoin isn’t *totally* about the doom and gloom—over the last 24 hours, it defiantly clawed its way back up by 2.45%, somewhere around $89,020. Keep calm and HODL? Maybe. 🤔

The price drama arrived just as the U.S. president is warming up to drop some awkward tariffs on Canada and Mexico. Because apparently, global trade needed spicing up. Oh, and let’s not forget about the Federal Reserve endlessly debating whether to “cut rates” or “go hawkish” like an indecisive restaurant patron. Decisions, decisions. 🐦📉

Wise Words from Binance‘s Big Cheese 🧀

Enter Binance CEO Richard Teng, who took to X (still weird to call it that) to drop some wisdom bombs on the current crypto kerfuffle. Teng described these withdrawals and market jolts as not a collapse, but a “tactical retreat.” Tactical! Like a chess piece backing up to absolutely annihilate you later. Checkmate, bears. ♟️🐻

Here’s my thoughts on the recent market turbulence: It’s important to view this as a tactical retreat, not a reversal.

Crypto has been here before and bounced back even stronger. Here’s why we should stay optimistic. ⤵️

A thread 🧵

— Richard Teng (@_RichardTeng) February 25, 2025

Teng waxed inspirational, reminding everyone that crypto has been through worse and survived. “Recalibration,” he called it—nice, calm, throw-a-blanket-on-the-fire phrasing. 🚒 He pointed out that crypto’s fundamentals are actually improving (allegedly), so maybe just breathe and don’t sell your apartment to buy dog-themed altcoins *this time*. 🐶🐾

So, it sounds like everything is fine. Totally fine. Nothing to see here. Now—how about we all agree to never look at our accounts during market dips again? Cool? Cool. 🙃

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2025-02-26 14:53