Bitcoin (BTC) Spot ETF Inflows Drop Over 90% From $3 Billion to $228 Million in Four Weeks

Spot Bitcoin ETF inflows dropped over 90% from $3 billion to $228 million in four weeks.

The Bitcoin (BTC) market experienced a massive 90+% drop in spot BTC exchange-traded fund (ETF) inflows in just four weeks, new data shows.

After reaching $3 billion in the last week of April, the rate of institutional money flowing into Bitcoin through spot ETFs has slowed to almost a trickle.

While strong ETF inflows are often linked to Bitcoin rallies, recent data from Q1 and Q2 2025 shows that the price movements can also occur independently of the derivatives market.

Despite the short-term selling pressure and potential correction, long-term BTC whale buying suggests that the uptrend may continue.

Key takeaways:Spot Bitcoin ETF inflows dropped over 90% from $3 billion to $228 million in four weeks.

While strong ETF inflows often drive Bitcoin rallies, recent data shows price movements can occur independently.

Despite short-term selling pressure, long-term BTC whale buying suggests a potential continuation of the BTC uptrend.

The last seven days saw only $228 million in net inflows into spot Bitcoin ETFs, a stark contrast to the $3 billion reported for the week ending April 25, according to the latest data from CCChartData.

Historically, a slowdown in ETF inflows has impacted BTC price. Notably, when daily inflows exceeded $1.5 billion for two consecutive weeks, a correction followed.

To understand the potential impact on Bitcoin, let’s examine four key periods of significant spot ETF activity and their correlation with BTC price movements:

In Q1 2024, from February 2 to March 15, the spot ETFs recorded $11.39 billion in net inflows over seven weeks, which was later attributed by DeFI researcher Wu Blockchain to a 57% price surge.

However, BTC prices peaked in week five, as $4.8 billion inflows in the final two weeks did not push its value higher.

Similarly, Q3 2024 saw $16.8 billion in inflows over nine weeks from October 18 to December 13, fueling a 66% rally. Nevertheless, when inflows slowed in the 10th week, Bitcoin’s price dropped 9%, further highlighting the link between ETF flows and price corrections.

In Q1 2025, $3.8 billion in inflows over two weeks (January 17–24) coincided with a new all-time high of $110,000 on January 20, but overall prices fell 4.8%.

Most recently, Q2 2025 (April 25–May 9) saw $5.8 billion in inflows and a 22% price rally, though Bitcoin had already gained 8% in the previous two weeks despite negative netflows.

This data challenges the notion that spot ETF inflows consistently drive prices. While Q3 2024 and Q2 2025 suggest strong inflows fuel rallies, Q1 2024 and Q1 2025 show prices can stagnate or fall despite substantial inflows.

The Q2 2025 rally, partially independent of spot ETF activity, hints at other drivers like easing US tariffs, retail interest or Bitcoin whale accumulation.

With inflows now at $228 million, the historical trend leans bearish, suggesting a potential correction. Nevertheless, a counterargument emerges from recent whale activity, which paints a more bullish picture.

Bitcoin faces selling pressure, but whales may retain the trend

Bitcoin is exhibiting short-term selling pressure as the Buy/Sell Pressure Delta turns negative, according to Alphractal CEO Joao Wedson. The chart shows that whales are starting to offload BTC between $105,000 and $100,000, a level which Wedson flagged as risky.

This bearish shift, with a negative cumulative volume delta, indicates selling pressure in the short term. However, long-term buying pressure remains strong, suggesting that this dip is a correction rather than a reversal.

Data from CryptoQuant highlights that whales are taking relatively fewer profits in the current period than in previous price peaks. Anonymous analyst Blitzz Trading noted, "The whales are still dumping but not at the rate they did at the last ATH. We might be seeing some fib-level support at $98K, which could hold.”