Bitcoin Exchange-Traded Funds (ETFs) saw an outflow of $843.8 million last week, bringing the total outflow to $5.4 billion over the past five weeks. Bitcoin (BTC) also dipped below $80,000 last week as macroeconomic factors continued to pressure the crypto market.
CoinShares reported that assets under management (AUM) in crypto investment products dropped to $48 billion, significantly down from their peak of $134 billion last year. On a national scale, the U.S. recorded the highest outflow last week, totaling $1.16 billion—accounting for 93% of all outflows during this negative trend.
Despite the market turbulence, long-term Bitcoin holders continue accumulating BTC. According to CryptoQuant, the number of Bitcoin held for three to six months has risen sharply, based on the Realized Cap UTXO Age Bands metric.
“Historically, this kind of resilience among Bitcoin holders has played a crucial role in forming market bottoms and sparking new uptrends,” CryptoQuant noted in its report on Monday (March 17).
This trend suggests that Bitcoin is undergoing a healthy correction rather than entering a full-blown bear market. The outlook is further reinforced by companies like Strategy, which recently announced the purchase of 130 BTC worth $10.7 million at an average price of $82,981 last week.
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