BTC ETFs attract $273 million in two weeks. That’s peanuts compared to recent exodus

That interpretation is intuitive given that ETFs, which let investors gain exposure to the cryptocurrency without owning it directly, are widely seen as a cleaner crypto market gateway for institutions. As a result, positive ETF inflows are taken to mean BTC is receiving institutional support, while outflows suggest the opposite.

Bitcoin’s price too has stabilized between $64,000 and $65,000 lately, offering hope that a bottom may be in. Prices peaked above $126,000 in October last year.

On the surface, it looks like the tide has turned. However, there is a massive caveat that makes these ETF inflows look like statistical noise rather than a structural shift.

The peanuts reality check

The hype surrounding this $273 million inflow quickly evaporates when compared to the carnage of the preceding eight weeks. During that two-month outflow streak, the market watched billions of dollars walk out the door.

To put the current “recovery” in perspective: the total amount of money that has entered the market over the last 14 days ($273 million) is barely more than the smallest single-week outflow recorded during that eight-week slump, which was $226.84 million in the week ended June 18.

In other words, it took two full weeks of “renewed optimism” just to offset the quietest week of the recent sell-off.