Darling, the market has debuted a new act: the U.S. spot Bitcoin ETFs stage a jet‑set exodus, leaving the guests at the party to wonder if they’ve misread the invitation. BTC, ETH, and SOL drift with the nonchalant elegance of guests who’ve mistaken the canapé table for a lifebuoy, and ETF ownership proves to be a rather concentrated chorus line.
total value traded in U.S. spot Bitcoin ETFs hit $7.15B on Feb. 4, highlighting how ETFs remain the primary institutional conduit into BTC even on down days.
This mechanical selling lands in a broader risk‑off tape. Bitcoin (BTC) changes hands near $73,103, down about 5.5% over the last 24 hours as total crypto market capitalization slips roughly 4.4% to $2.35T. Ethereum (ETH) trades around $2,111, with a 24‑hour range roughly between $2,080 and $2,287 and turnover close to $47.4B, as the latest leg lower is framed by one desk as “a corrective bounce inside a broader downtrend rather than the start of a new bull leg.” Solana (SOL) hovers close to $92, after briefly dipping below $90, leaving it down about 7-8% over the past day on roughly $8.7B in volume.
Analysts warn that the ETF tape now cuts both ways. Citi strategists recently highlighted that the average entry price for spot ETF buyers clusters near $81,600, arguing that “slowing spot ETF inflows and regulatory uncertainty could push Bitcoin toward the $70,000 area if outflows persist.” For now, the data from SoSoValue show a market where structurally high ETF ownership is meeting a cyclical air pocket in demand – and the flows are doing the talking.
For further context on market conditions and flows around this move, see coverage on crypto prices today, Ethereum’s February sell‑off, and the latest spot ETF flow commentary from major banks.
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2026-02-05 13:06