Bitcoin Withdrawal Sentiment Continues, with a 24-hour CEX Net Outflow of 1,729.96 BTC

Bitcoin (BTC) recorded a net outflow of 1,729.96 BTC from centralized exchanges in the last 24 hours, indicating ongoing withdrawal sentiment from retail and institutional investors according to Cointelegraph. The movement follows recent inflows into Bitcoin ETFs, though the total assets under management remain 24% below their Q4 2025 peak as reported. This suggests a partial recovery in ETF flows but underscores the fragility of the current market environment.

Spot Bitcoin ETFs have seen a resurgence in inflows, with $1.8 billion in net inflows over the week, the largest since early October 2025 according to Cointelegraph. These flows have supported Bitcoin's price as it tests the $98,000 resistance level. However, ETF positioning remains below previous highs, and analysts emphasize the need for sustained inflows over weeks rather than isolated spikes according to data.

The imbalance between Bitcoin supply and ETF demand remains a structural feature of the market. Since January 2024, spot ETFs have purchased approximately 710,777 BTC while the network has produced just 363,047 BTC during the same period according to Cointelegraph. This highlights the potential for ETFs to consume more than 100% of new Bitcoin supply as institutional demand grows in 2026.

Why Did This Happen?

Institutional demand has rekindled Bitcoin's price momentum in early 2026, with ETF inflows reaching $1.8 billion in the week according to Coinpedia. This has coincided with a 12% rally in BTC price over 15 days, surpassing $95,000 after a period of consolidation. The renewed institutional participation is underscored by large-scale corporate purchases, such as Michael Saylor's accumulation of close to 687,410 BTC according to analysis.

Regulatory developments also played a role in shaping the market environment. The delayed Senate Banking Committee markup of the CLARITY Act introduced mixed sentiment. Although the bill initially spurred optimism, Coinbase's withdrawal of support raised concerns over regulatory clarity as reported by Yahoo Finance. This created uncertainty among market participants, influencing short-term price movements.

How Did Markets Respond?

Bitcoin's price has faced mixed signals. After a strong rally above $95,000, the market experienced a cooling period with Bitcoin trading around $95,300 according to Yahoo Finance. Ethereum (ETH) also saw a 5.9% increase over the same period but faced declining trading volumes. The broader market wavered as trading volumes for Bitcoin and Ethereum dropped by 27% and 32%, respectively according to data.

On-chain data offers a more positive outlook. The 90-day Spot Taker Cumulative Volume Delta (CVD) metric has shifted to a taker buy dominance phase, indicating growing buy-side pressure and improved supply-demand dynamics according to Coinpedia. This suggests that institutional and ETF-driven flows are gaining traction, with retail participation still subdued according to Yahoo Finance.

What Are Analysts Watching Next?

Analysts remain focused on whether continued ETF inflows will translate into a durable price trend. While short-term bounces have occurred, they have been followed by fading momentum unless flows are sustained over weeks according to Cointelegraph. The next key price level for Bitcoin is the $108,000 threshold, where the 200-day Exponential Moving Average (EMA) currently acts as a dynamic resistance according to analysis.

Market participants are also watching for regulatory developments, particularly around the CLARITY Act. Coinbase's withdrawal of support highlighted the fragility of industry consensus and delayed the Senate Banking Committee markup as reported. A resolution in the coming weeks could provide clarity and unlock further institutional flows.

Bitcoin's future trajectory remains tied to institutional demand and regulatory progress. With ETFs continuing to outpace new supply and on-chain metrics showing improving dynamics, the outlook is cautiously optimistic. However, the market remains sensitive to regulatory developments and macroeconomic factors, which could influence short-term price volatility.