Data from Farside Investors shows that Tuesday’s outflows reached $937 million. Fidelity’s FBTC led the losses with $344 million, followed by BlackRock’s IBIT with $164 million. Other funds, including Bitwise’s BITB, Grayscale’s BTC, and Franklin Templeton’s EZBC, also saw significant redemptions.
The sell-off comes amid broader market uncertainty, fueled by concerns over potential trade tariffs from former President Trump. Analysts believe these worries triggered over $1 billion in crypto liquidations. The renewed tariff talk has raised inflation fears, pushing investors away from risk assets like Bitcoin.
Following the ETF outflows, Bitcoin lost key support at $91,000 and dropped further to $88,928. Technical indicators suggest more downside risk. TThe $85,696 200-day EMA is now a significant support point. Bitcoin could fall to the $70,000 area if it crosses this area.
The Relative Strength Index (RSI) shows that Bitcoin is oversold, yet no clear signs of a bounce are visible. Meanwhile, resistance at $91,000 remains intact, since a lot of traders had accumulated there beforehand.
The path of Bitcoin’s next direction will depend on whether buyers step in to defend key levels of support or if selling pressure continues to push prices lower.
