In a notable trend, US spot Bitcoin exchange-traded funds (ETFs) have seen continuous net outflows, amounting to $152.42 million recorded on Tuesday, marking the fourth consecutive day of daily net outflows. This development reflects a decline in investor confidence, contrasting with previous inflow streaks that peaked at $15.69 billion on June 7, but have since decreased to $14.81 billion as of the latest data.

Among the 11 spot Bitcoin ETFs, Fidelity’s FBTC recorded the largest outflow, totaling $83 million, according to data from SosoValue. Grayscale’s GBTC followed with a net outflow of $62 million, while Bitwise’s BITB saw approximately $7 million in outflows. In contrast, the other eight ETFs reported zero flows on Tuesday. The total trading volume for these ETFs amounted to $1.7 billion, up from $1.24 billion the previous day.

CryptoQuant analysts highlighted in a recent report that Bitcoin breached a critical price support level, suggesting a potential 8% to 12% correction, potentially leading towards the $60,000 mark. At the time of reporting, Bitcoin was trading around $65,498, marking a slight decline of 0.35% over the past 24 hours, according to The Block’s Bitcoin price page.

The recent stability in Bitcoin’s price reflects a broader trend of decreased volatility in the crypto market, as noted by on-chain analysis firm Kaiko. Despite a brief surge from $66,000 to nearly $70,000 last week, followed by a dip to above $66,600, Bitcoin’s 60-day historical volatility has consistently remained below 50% since early 2023. This contrasts sharply with the high volatility observed in previous years, underscoring a maturing market environment.

Interestingly, despite the overall positive performance of spot Bitcoin ETFs in the US, a streak of 20 consecutive days of inflows was interrupted last week. Currently, a new streak of three consecutive trading days of outflows is emerging, totaling over $550 million last week, with an additional $146 million outflow recorded in the first day of the current trading week.

Jag Kooner, Head of Derivatives at Bitfinex, suggested that investor behavior in ETFs tends to amplify market movements, with inflows occurring at higher price ranges and outflows when prices approach lower thresholds. This pattern underscores the role of sentiment and market dynamics in shaping ETF flows amidst Bitcoin’s evolving price action and market structure.