Bitcoin (BTC) continues its downward trajectory, briefly touching $78,433 in early Friday trading as the market grapples with sustained outflows from spot Bitcoin exchange-traded funds (ETFs).

Key Market Developments:

Data from SoSoValue reveals that U.S. spot Bitcoin ETFs have experienced net outflows totaling $3.2 billion over an eight-day period, equaling the longest consecutive stretch of withdrawals since these products launched. February has so far recorded a net outflow of $3.65 billion, with inflows observed on only four occasions this month.

The largest single-day outflow occurred on Tuesday, when a record $1.14 billion exited Bitcoin ETFs. Notably, BlackRock’s (NASDAQ: IBIT) flagship Bitcoin ETF, the largest by net assets, saw its most significant daily outflow of $418 million on Wednesday. While Thursday’s outflows moderated to $275.8 million, Bitcoin’s price remained under pressure, trading at approximately $80,345—down 6.9% at the time of writing.

The broader cryptocurrency market has also experienced a sharp contraction, with total market capitalization declining 8.7% to $2.76 trillion in the last 24 hours. This sell-off comes amid growing investor concerns over macroeconomic risks, including escalating trade tensions following former President Trump’s aggressive tariff policies.

Cryptocurrency Performance Snapshot:

With ongoing liquidity concerns and macroeconomic uncertainty, investors remain cautious about the near-term trajectory of digital assets. Market participants will closely watch ETF flow data and broader economic developments for potential stabilization signals.