Bitcoin’s Sinking Ship: Is Satoshi Laughing from the Depths? 😂

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In the grand theater of cryptocurrency, the Bitcoin ETF outflows have reached a staggering $750 million in just two days, as the market dances to the tune of decline. BlackRock, the titan of issuers, has unceremoniously cast off around 2,000 BTC in the last 24 hours.

Alas, the ETF issuers have collectively sold off enough BTC to find themselves beneath the shadow of Satoshi. Just three moons ago, they had surpassed him, indulging in a spree of acquisitions that now seems like a tragic comedy of errors.

The Outflow Saga Continues

Since the Bitcoin ETFs received their golden ticket from the SEC last year, they have spun a web of transformation across the market. Yet, like a once-vibrant flower wilting under the sun, they have turned bearish of late.

As February drew to a close, the market witnessed a staggering $2.7 billion in outflows, a trend that has stubbornly persisted. The last four weeks have been a relentless tide of losses, with nearly $750 million washed away this week alone.

We now find ourselves at the seventh consecutive day of outflows in this ETF drama. IBIT, BlackRock’s star player, has led the charge with a staggering $151 million lost in just 24 hours.

In the midst of February’s chill, some analysts began to whisper that BlackRock might be preparing to part ways with its Bitcoin. ETF analyst Shaun Edmondson, with a keen eye, noted the growing trend:

“The markets are feeling quite ‘risk off’ with the Tariff uncertainty looming like a dark cloud, yet here we are, witnessing yet another outflow day from the US Spot ETFs, now collectively sinking below Satoshi once more. Given the bullish narrative from the SEC, the strategy raising $21 billion, and the National [Bitcoin Reserve] bill, I find this a tad surprising,” Edmondson mused.

BlackRock alone has offloaded around 2,000 BTC since Edmondson shared yesterday’s tally. The future of these ETF issuers remains shrouded in mystery, but these Bitcoin sales are raising eyebrows and concerns alike.

Having surpassed Satoshi’s holdings back in December, these outflows have devoured three months’ worth of fervent purchasing.

Yet, despite this cloud of ETF pessimism, Bitcoin’s price could be faring far worse. The entire crypto market has been battered by massive outflows, and BTC has followed suit.

However, a glimmer of hope emerged this morning as the US CPI report exceeded expectations, granting Bitcoin a momentary breath of fresh air. But alas, how long this fleeting reprieve will last is anyone’s guess. 🤷‍♂️

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2025-03-12 20:12