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BTC-Spot ETFs Extend Outflow Streak Four Sessions
Tariff developments also weighed on BTC-spot ETF flows. According to Farside Investors, BTC-spot ETF flows for April 8 included:
- Bitwise Bitcoin ETF (BITB) reported net outflows of $21.7 million.
- ARK 21Shares Bitcoin ETF (ARKB): Net outflows of $19.9 million.
Excluding BlackRock’s (BLK) pending iShares Bitcoin Trust (IBIT) data, total US BTC-spot ETF outflows reached $73.4 million, marking outflows in seven of the past eight sessions.
Market intelligence platform Santiment remarked on market sentiment, stating;
“Based on mid-term timeframes, average trading returns are now unsurprisingly showing ‘Opportunity Zones’ for the majority of altcoins. As tariffs have wreaked havoc on the crypto sector, the Santiment feed MVRV Divergence model shows that assets have racked up heavy enough realized losses to justify dip buys…”
However, Santiment warned that market trends could mirror the early weeks of COVID-19 volatility. Nevertheless, Santiment expects an end to the global trade war to trigger a market rebound, stating:
“If and when a global tariff solution is reached, it would undoubtedly trigger a very rapid cryptocurrency recovery. However, this is currently a very big “if” based on the latest media coverage on what is quickly being referred to as a full-fledged “trade war” between the US and the majority of the world.”
BTC Price Outlook: Bearish and Bullish Scenarios
On April 8, BTC fell 3.64%, reversing Monday’s 1.1% gain to close at $76,283.
BTC scenarios include:
- Bearish Scenario: Rising trade tensions, higher US inflation (April 10), a hawkish Fed stance, extended BTC-spot ETF outflows, or opposition to the Bitcoin Act could drag BTC toward $70,000.
- Bullish Scenario: Lower US inflation, a dovish Fed, a trade war de-escalation, bipartisan crypto support, and sustained ETF inflows could lift BTC toward $109,312.
Market Outlook: Themes to Watch
Several key drivers will guide crypto market sentiment in the coming days:
- SEC vs. Ripple case-related updates.
- Tariff developments and retaliations.
- Bitcoin Act-related news.
- US inflation trends and Fed forward guidance (April 10).
- ETF flow trends and investor positioning.
While recent SEC actions may offer short-term reassurance, long-term sentiment remains tied to regulatory clarity and macroeconomic stability. Explore what analysts say is needed for cryptos to reach new highs.
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