U.S. spot Bitcoin ETFs experienced significant outflows totaling $326.4 million on Monday, marking the largest single-day withdrawal since September 26, according to Farside investment data.
BlackRock's iShares Bitcoin Trust (IBIT), the market's largest spot Bitcoin ETF by assets under management, remarkably defied this negative trend by continuing to attract substantial investor capital.
During the past two trading sessions, IBIT recorded $134 million in new inflows despite Bitcoin's price declining from $122,000 to $107,000. The fund has now achieved 10 consecutive trading days of positive inflows, demonstrating remarkable resilience in challenging market conditions.
While net inflows during the most recent sessions decreased to $74.2 million and $60.4 million respectively - significantly lower than the previous eight sessions which each saw minimum $200 million inflows - the consistent positive flow pattern remains noteworthy. Historical data from Glassnode indicates IBIT's flows typically correlate with Bitcoin's price movements, yet the fund has maintained inflows despite BTC's 20% correction from its October 6 all-time high of $126,000.
U.S. Market Performance Shows Weakening Trend
Velo market data reveals Bitcoin's performance during U.S. trading hours has substantially weakened since reaching record highs. While Bitcoin showed over 10% gains during U.S. hours in early October, this figure has since declined to just 1.7%.
Despite this performance reduction, Bitcoin continues to outperform during American trading sessions compared to European and Asian markets, both showing negative returns over the past month.