Bitcoin ETFs Hanging In There Despite Price Plunge: Analyst

Meanwhile, investment researcher Jim Bianco said in an X post on Wednesday that the average spot Bitcoin ETF holder is 24% “underwater and collectively holding.”

Bitcoiners are being “very short-sighted.”

Crypto analytics account Rand pointed out in an X post on Tuesday that this is “the first time in history there have been three consecutive months of outflows.”

The extended outflows come as Bitcoins spot price has fallen 24.73% over the past 30 days, trading at $70,537 at the time of publication, according to CoinMarketCap.

Some analysts argue that Bitcoin investors are overlooking the bigger picture.

ETF analyst Eric Balchunas said on Jan. 28 that Bitcoiners are being “very short-sighted,” given that Bitcoins performance since 2022 has been up over 400%, compared with gold at 177% and silver at 350%.

“In other words, bitcoin spanked everything so bad in ‘23 and ’24 (which ppl seem to forget) that those other assets still havent caught up even after having their greatest year ever and BTC being in a coma,” Balchunas said.

Meanwhile, CryptoQuant CEO Ki Young Ju said in an X post on Wednesday that “every Bitcoin analyst is now bearish.”