crypto.news 2025-05-01 07:46:08

Bitcoin ETFs end 8-day inflow run as BTC loses $95k support amid macro jitters

U.S. spot Bitcoin ETFs closed out April with money flowing out as Bitcoin slipped below the $95,000 support level, partly because of worries over Trump’s new tariffs and weak U.S. economic data. According to SoSoValue data , the 12 spot Bitcoin ETFs saw $56.23 million in outflows on April 30, breaking an 8-day streak that had brought in nearly $4 billion. Most of the pullback came from Fidelity’s FBTC and ARK & 21Shares’ ARKB, which lost $137.49 million and $130.79 million, respectively. Grayscale’s GBTC and Bitwise’s BITB also lost $31.96 million and $23.02 million. On the flip side, BlackRock’s IBIT, the biggest BTC ETF by net assets, managed to pull in $267.02 million, helping offset some of the overall losses. The other Bitcoin ETFs didn’t see any flows that day. Total trading volume across these funds hit $2.39 billion, with total net inflows since launch standing at $39.14 billion. Investors turned cautious after Bitcoin failed to hold above $95,000 especially following some disappointing U.S. economic numbers . First, the ADP jobs report showed only 62,000 private sector jobs added in April, way below the 108,000 expected and the weakest since July 2024. You might also like: Trump blames Biden as markets weaken on GDP and tariff turmoil Then, the first estimate for Q1 GDP came in at negative 0.3%, missing forecasts of +0.2%. A big reason for the GDP dip was a 41% jump in imports, as businesses rushed to stock up ahead of President Trump’s fresh wave of tariffs. At present, Trump’s tariff plans are causing jitters across markets . His administration has been pushing for new tariffs on Chinese goods and select European products, aiming to boost U.S. manufacturing but also raising the risk of higher costs and supply chain disruptions. Many companies are racing to import goods before these tariffs fully kick in, adding extra pressure to economic data and contributing to the recent jump in imports. These tariff concerns are feeding into broader fears of stagflation, a mix of weak growth and stubborn inflation, making investors unsure about when or how much the Fed might cut rates. As a result, riskier assets like tech stocks got hit hard on April 30, with the Nasdaq dropping 2% and the S&P 500 sliding 1.5%. Bitcoin ( BTC ) also fell 2% to $93,438 before recovering some ground today. Read more: $800m Bitcoin lost in trash becomes star of new docuseries