Bitcoin Price Volatility Continues Amid ETF Outflows and Geopolitical Tensions

The Bitcoin price has been struggling due to a combination of factors, including outflows from Spot Exchange-Traded Funds (ETFs) and ongoing geopolitical tensions.

According to recent data from SoSoValue, Spot Bitcoin ETFs recorded more outflows than inflows last week, which has had a noticeable impact on prices. On March 18 and 20, these ETFs saw total outflows of $305 million, followed by a modest influx of capital the next day.

The most recent outflows occurred on March 26 and 27, with withdrawals from Spot Bitcoin ETFs reaching $171.22 million on Thursday and an additional $225.48 million outflow the following day. The bulk of these outflows came from BlackRock's IBIT, which alone saw $41.92 million exit on Thursday and a staggering $201.5 million outflow on Friday.

As of now, Spot Bitcoin ETFs have returned to net positive territory, with cumulative inflows totaling $56.12 billion after ending its two-day outflow streak and receiving over $187 million over the last two days. However, despite renewed demand, Bitcoin's price is still down, recording a year-to-date decline of roughly 40%. The cryptocurrency is also trading below the $70,000 level, hovering just above $68,000.