Bitcoin ETFs See $635M Outflow in Biggest Daily Exit Since January as Price Dips Below $80K

U.S. spot Bitcoin ETFs saw heavy selling pressure on Wednesday, May 13, with net outflows reaching $635.23 million according to SoSoValue data. This marks the biggest daily withdrawal since late January and reverses recent strong inflow momentum.

BlackRock’s iShares Bitcoin Trust (IBIT) posted the largest outflow at $284.69 million. Ark 21Shares Bitcoin ETF (ARKB) followed with $177.10 million, while Fidelity’s FBTC recorded $133.22 million. Bitwise’s BITB also saw $35.40 million leave. Every single Bitcoin ETF finished the day in negative territory.

Bitcoin Price Slips Below $80,000

Bitcoin dropped from near $82,300 to trade between $79,200 and $79,800 following the outflow data. The move came after stronger-than-expected U.S. Producer Price Index numbers showed inflation running at 6% year-over-year, reducing hopes for imminent Federal Reserve rate cuts.

Higher-for-longer interest rates and persistent inflation concerns continue to weigh on risk assets including cryptocurrencies. Oil prices remaining above $100 per barrel added further pressure on market sentiment.

ETF Flow Summary

Spot Ethereum ETFs also saw outflows of more than $36 million, with no positive flows recorded across the products.

Solana ETFs Show Strength

While major assets faced selling, Solana ETFs demonstrated resilience with no negative flow days in May. The products have gathered $90.83 million this month, standing out among altcoin ETFs.

What This Means

The sharp outflows end a strong run for Bitcoin ETFs, which saw nearly $2 billion in net inflows in April and over $1.6 billion in early May. Analysts view this as profit-taking and position reduction amid macroeconomic uncertainty rather than a change in long-term conviction.

Bitcoin needs to reclaim the $80,000 level with strength to restore bullish momentum. Support sits in the mid-$70,000 range if current levels fail to hold.