Bitcoin ETFs bleed $635M in a single day — the biggest outflow since January!

U.S. spot bitcoin ETFs suffered their largest single-day net outflow since January 29 on Wednesday, with investors pulling $635 million in one session, according to SoSoValue data. The five-day bleed now totals $1.26 billion, dragging cumulative net inflows since the funds' January 2024 debut down to $58.5 billion from $59.76 billion a week ago.

Bitcoin's rally has stalled below its 200-day moving average near $82,000, with the price sliding to around $79,400 as renewed U.S. inflation fears weigh on sentiment. Notably, Wall Street's Nasdaq and S&P 500 both hit new highs on Wednesday — meaning the macro pressure is hitting crypto specifically, not equities broadly.

The ETF-to-price link is also fraying. The 90-day rolling Pearson coefficient between bitcoin's daily return and cumulative ETF flow changes has collapsed to just 0.16 — statistically indistinguishable from zero, down from a…