The U.S. Spot Bitcoin ETFs experienced a notable $11.3 million net outflow on Thursday, with Grayscale's GBTC ETF leading the pack in negative flows, surpassing other ETF products with over $40 million in outflows.

On Thursday, the U.S. Spot Bitcoin ETF landscape witnessed significant net outflows, with Grayscale's GBTC ETF standing out with a negative flow of $43.4 million. Despite this trend, GBTC remains a key player in the market, having seen a substantial influx of over $60 million just last Friday.

In contrast, Blackrock's IBIT ETF saw a resurgence in inflows, attracting $14.2 million, indicating growing investor confidence in this particular ETF. Additionally, Fidelity's Wise Bitcoin ETF (FBTC) and Bitwise's BITB ETF also experienced positive movements, with inflows of $2.7 million and $6.8 million, respectively.

Bitwise's BITB ETF, which drew $11.5 million in inflows on Wednesday, continued to be a preferred choice among investors, while Ark 21shares (ARKB) ETF saw a healthy influx of $4.4 million on Thursday. WisdomTree's BTCO and Franklin Templeton's EZBC Bitcoin ETF also saw modest inflows of $2.2 million and $1.8 million, respectively.

However, other ETFs from Hashdex, VanEck, Valkyrie, and Invesco Galaxy did not witness any flows on Thursday, indicating a lack of interest in these specific Spot Bitcoin ETF products.

Despite the negative flows in the Bitcoin ETF sector, the BTC price rebounded above $63,000 on the same day. The Bitcoin price surged by 3.21% to $63,138.35, with a market capitalization of $1.24 trillion. The 24-hour trading volume for BTC also saw a significant increase of 7.11% to $26.06 billion.

As the Bitcoin price shows signs of recovery, short sellers faced liquidations, with Coinglass data indicating short liquidations totaling $28.14 million out of a total of $36.94 million. This short squeeze could temporarily push the BTC price higher, although substantial long liquidations may hinder a sustained rally.