Spot Bitcoin ETFs just hit an unwelcome milestone—the biggest liquidity drawdown ever recorded. Here's what's brewing beneath the surface:
The average cost basis for ETF holders is hanging around $86K. For anyone who bought after the peak? They're underwater. Not a great look.
Then there's the outflow story: Over $6 billion has exited spot BTC ETFs—also a record. That's real capital heading for the exits.
But there's a silver lining emerging. The selling pressure is actually starting to ease, which suggests we might be approaching some kind of equilibrium. Problem is, with order books thinning out across venues, even moderate ETF flows could move markets fast. Thin liquidity means less cushion for both inflows and outflows—volatility is basically priced in now.
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BTCWaveRider
· 11h ago
Six billion exit scam, liquidity as thin as paper. Is this wave really signaling a bottom?
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TokenomicsTherapist
· 11h ago
Still crying over the 86k cost price? I think this is a bottom signal. The outflow of funds indicates panic is being released. Only after clearing out the panic can it rise.
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MemeCurator
· 11h ago
Six billion run away, I wonder when this wave will end...
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LiquidityWizard
· 11h ago
86K cost price... It's really tough for the big players who are trapped, this wave is indeed a bit tragic
BTC SPOT ETF: A RESET SIGNAL?
Spot Bitcoin ETFs just hit an unwelcome milestone—the biggest liquidity drawdown ever recorded. Here's what's brewing beneath the surface:
The average cost basis for ETF holders is hanging around $86K. For anyone who bought after the peak? They're underwater. Not a great look.
Then there's the outflow story: Over $6 billion has exited spot BTC ETFs—also a record. That's real capital heading for the exits.
But there's a silver lining emerging. The selling pressure is actually starting to ease, which suggests we might be approaching some kind of equilibrium. Problem is, with order books thinning out across venues, even moderate ETF flows could move markets fast. Thin liquidity means less cushion for both inflows and outflows—volatility is basically priced in now.