Bitcoin ETFs See $1.6B Outflows in 4 Days as BTC Slips Below $90K

Quick overview

Institutional demand for Bitcoin has basically stalled as U.S. spot Bitcoin ETFs have been seeing net outflows for another day, which is a reflection of a bigger trend of risk aversion now that a really important central bank decision is looming. Data from SoSoValue shows that on Thursday, the 12 U.S. spot Bitcoin ETFs saw $32 million in net outflows, with BlackRock’s IBIT at the top of the list, pulling out $22.3m, while Fidelity’s FBTC followed close behind at $9.7m. The rest of the products saw no movement.

The last bout of withdrawals has now put the streak at four days in a row, with a grand total of $1.6 billion in outflows now – and the number is still climbing. For the whole month so far, we’re already looking at a total of $14.55 million in ETF redemptions, and if this keeps up January is looking like it’s going to be another bad month for the market after November’s $3.48 billion losses and December’s $1.09 billion.

The persistence of this outflow is a pretty clear sign that institutions are still playing it safe rather than making any big bets that things are about to turn around soon.

Over $1.6B has left Bitcoin ETFs in the last four trading sessions.

Capital is rotating into precious metals and stocks
(S&P 500 and Russell 2000 both continue to grow

Meanwhile, crypto keeps struggling.
We’re back in the $88k range.

Crypto still looks fragile pic.twitter.com/AdtSX93z9E

— Inspired Analyst (@inspirdanalyst) January 23, 2026

BoJ Decision Brings a brief respite

Most of the market got a bit nervous ahead of the BoJ’s interest rate decision, and there were a lot of people worried that they might leave the rates at 0.75% – something that hasn’t happened in about 30 years. If rates stay up it usually helps the yen and puts a bit of a damper on risk-taking – including in the crypto market. But in the end the BoJ decided not to make any changes, which is exactly what everyone expected, and that gave everyone a tiny bit of a reprieve.

https://sosovalue.com/assets/etf/us-btc-spot

But that only lasted for a little while – because despite the good news, Bitcoin still managed to fall below a psychological level, plummeting to an intraday low of $88,557 (and falling below the $90,000 mark before it settled again). While the decision did ease some immediate pressure on the market, it didn’t change the overall risk-averse mood that’s been going on.

Technical Levels Define the Near-Term Risks

From a charting perspective, the trend is pretty clear: Bitcoin’s price action has broken below a key support level that had been holding up the market since late November.

When we look at the daily chart we see that it’s also now below its 50-day moving average, which isn’t a good sign, especially when we see intensifying selling pressure. Looking at momentum indicators – particularly the MACD – just reinforces that caution is in order.

So now the outlook is all about a few key levels:

• If the bears are able to get their way, they might try to push Bitcoin all the way back to a retest of that low point around $85,000 – the level it hit in mid-December.
• If the price can hold above $90,000, that would be a pretty clear sign that the bearish trend is giving way to a more positive one.
• And on the upside, if the market can manage to hold its ground above $90,000 for a bit, it might just start to break on through to $97,538 – the high point it hit in January.

ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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