US spot bitcoin funds have finally recorded a net inflow of $13.3 million. In total, almost $1.33 billion has been withdrawn from ETFs since the beginning of March.

The leader in terms of inflow of funds on March 12 was the ARKB fund from ARK Invest, which received $82.6 million from investors. Next came the Grayscales Mini Bitcoin Trust with an inflow of funds in the amount of $5.5 million.

BlackRock's largest Bitcoin ETF IBIT has seen outflows for the fifth trading day in a row. During this time, nearly $47.1 million has been withdrawn from the fund. Invesco's BTCO, Grayscale's GBTC, and WisdomTree's BTCW have also seen outflows of $12.4 million, $11.8 million, and $3.5 million, respectively.

The funds have raised about $35.48 billion since launching in January 2024, according to Farside data.

The influx of funds into the Bitcoin ETF came after the flagship asset consolidated near the $83,000 mark on March 12. On March 11, the cryptocurrency fell to a low of $76,600 for the first time since November 2024.

Ethereum spot funds continued to see outflows for the sixth day in a row, with $10.3 million withdrawn on March 12. The total net inflow into these investment products has now reached $2.65 billion.

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The results of the report presented by the employees of the analytical company Santiment indicate that the bearish trend will dominate the cryptocurrency market for a long time.

Santiment experts have recorded a significant drop in digital asset trading volumes compared to the February peak, when traders were buying coins en masse at the bottom. Due to the downward trend observed over the past two weeks, many virtual currency traders have become despondent and have lost hope for a brighter future.

Change in digital asset trading volume

When trading volume in leading cryptocurrencies consistently declines even during a small correction (which we saw on Wednesday), it usually indicates a loss of enthusiasm among traders.

They are acting cautiously and may not believe that the upward trend will continue. The lull reflects the uncertainty of traders who doubt that buying cryptocurrencies at current prices will bring profit, - Santiment employees concluded.

According to experts, there is not enough fuel for a powerful upward movement, because market participants are in no hurry to buy coins. Without the activation of buyers, the growth of the Bitcoin and other digital assets will be small, and the short-term bullish trend will be replaced by a bearish one.

A further decline in cryptocurrency turnover will lead to prolonged stagnation, which will cause a gradual decline in the BTC rate. Other digital assets that do not have such a high level of capitalization may become cheaper and break new lows. But this is not a reason to despair. As one of the commentators on the Santiment publication noted, capitulation is the best time to buy cryptocurrencies.

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CryptoQuant analysts have found that large investors have been actively buying bitcoin at a reduced price over the past month. Taking advantage of a rollback of almost 16%, crypto whales have accumulated more than 65,000 BTC.

This does not mean an immediate impact on the short-term price, it already shows the absorption by large participants, excluding miners and exchanges, - commented on the news the head of research and network analyst at BlockTrends Kaue Oliveira.

Large purchases often signal bullishness, and in the recent past, accumulation has preceded the start of a bull cycle. At least that was the case in November and December 2024. However, for now, the leading asset continues to fall in price — Bitcoin has fallen almost 4.6% over the past seven days to $81,530.

Analysts say that due to the negative market reaction to tariffs and other events, BTC could fall even further. Thus, BitMEX co-founder and former CEO Arthur Hayes suggested that the flagship cryptocurrency could return to the $75,000 mark. This would mean a correction of 36% from the all-time high of $109,000.

However, Hayes remains optimistic about Bitcoin's long-term outlook , confident in its continued growth.

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