Disappointing news for Bitcoin investors as BTC is back to trading around $95k after threatening to break above $100k two days ago.
Bitcoin ETFs have reported two consecutive weeks of net outflows of over $500 Million, bringing bi-monthly outflows to $1.14 billion. So, why did Bitcoin slip?
For the first time in 2025, Bitcoin ETFs suffered two consecutive weekly net outflows, each exceeding $500 million, according to data from SoSoValue.
This brings the total worth of Bitcoin drawn from the different funds over the last two weeks to $1.14 Billion. Analysts argue that the turn of events reflects the fizzling investor interest in the legacy digital currency. 
Such a huge vote of no confidence in the altcoin has extended to the coin’s price action.
After closing last week on a high and mounting a spirited climb towards $100k, even reaching the high of $99.5k in the Asian market session on Saturday, Feb. 21, Bitcoin has slumped back to the local lows and was trading around $95.8k at press time.
The ByBit Hack Effect
It is worth noting that Bitcoin’s 6% price drop over the last two days was influenced majorly by the $1.4 Billion ByBit exchange hack.
The legacy coin dipped from the high of $99.5k to below $95K in the 6 hours following the news of the hack and is yet to recover.
Similar news of another hack affecting the 0xInfini, which drained 17,696 ETH off the Stablecoin Bank, hasn’t helped ease the situation.
How Soon Can Bitcoin Rebound?
Over the long term, the growing consensus between investors and analysts is that Bitcoin will breach the $200k price level before the end of the year.
However, BTC will likely continue trading sideways in the short term as key technical indicators show a growing bearish trend.
On the daily BTC/USD chart, for example, the MACD lines are converging in the negative territory, with the blue line crossing from above.
Its RSI has also dipped to 43 from the high 51 last week. These two imply that the bullish momentum Bitcoin had gathered throughout the previous week is fading, and bears are taking over.
🚀 Don’t Miss the Next Big Crypto Move!
Our premium members received real-time alerts on major crypto plays before they happened. Will you be ready for the next one?
🔴 Latest Insider Alerts:
- 📢This Token Is Set To Emerge As An Outperformer as USD Breaks Down. (Feb 16th)
- 📢When Will This Market Finally Start Moving? (Feb 9th)
- 📢Will February 5th Come To The Rescue? (Feb 4th)
- 📢Top 5 Tokens for 2025: Essential and In-Depth Chart Insights (Jan 31st)
⏳ Limited Spots Available – Secure Yours Now!
