The Bitcoin Exchange Traded Funds (ETFs) experienced a substantial net outflow of $223 million on Monday, marking a noteworthy departure from the preceding four days of consecutive net inflows.

As per insights from SoSo Value, Monday's outflow represented the most significant reduction in Bitcoin ETF holdings witnessed in over a fortnight. Remarkably, during the previous week, Bitcoin ETFs observed an influx for four successive days, accumulating a total of nearly $570 million. This surge in inflows notably propelled Bitcoin's market value to $72,000.

However, Monday's sudden reversal in trend led to a 6% decline in BTC's daily trading volume, subsequently causing the price to retreat to $69,000.

Among the various ETFs, Bitwise's ETF notably recorded the most substantial single-day net inflow, amounting to $40.3 million. Conversely, Grayscale's ETF, GBTC, encountered a notable withdrawal of nearly $303 million.

Since the Securities and Exchange Commission's (SEC) approval of ETFs in January, the market movements of Bitcoin have predominantly influenced the net asset inflow into these financial instruments. It is anticipated that institutional funds will continue to exert a significant influence on the token's market dynamics, especially with the forthcoming launch of Bitcoin Exchange Traded Notes (ETNs) on the London Stock Exchange next month.

Amidst the approaching halving event, analysts are divided on the short-term performance of the BTC market. Noteworthy figures in the industry, such as Anthony Scaramucci and Mark Plamer, have emphasized the continuation of an early bullish cycle post-halving, propelling the leading cryptocurrency's value to surpass $150,000.

However, sentiments among investors are not uniformly optimistic. A recent survey conducted by Deutsche Bank revealed that 30% of its investors anticipate Bitcoin's price to plunge below $20,000 by the end of this year.