US spot Bitcoin ETFs end 13-day outflow streak

The United States spot Bitcoin ($BTC) exchange-traded funds (ETFs) have finally broken their longest losing streak of 2026. After bleeding a net cash outflow of $4.367 billion between May 15 and June 3, the U.S. spot $BTC ETFs closed June 4 with a net inflow of approximately $3.05 million, according to data from SoSoValue. As such, the U.S. spot Bitcoin ETFs held $80.40 billion in total assets under management at the time of reporting. Spot $BTC ETFs daily cash flows. Source: SoSoValue

The shift in U.S. spot $BTC ETFs was largely driven by BlackRock's iShares Bitcoin Trust (IBIT), which registered a net cash outflow of roughly $47.66 million on the day. As such, BlackRock's IBIT held around $49.36 billion in total assets. Even the biggest fish in the pond leaks sometimes. IBIT daily cash flow. Source: SoSoValue

Meanwhile, Fidelity Wise Origin Bitcoin Fund (FBTC) reported a net cash outflow of $5.54 million on Thursday, extending its streak to 14 consecutive days of losses. At press time, FBTC held assets worth about $11.46 billion. The fund's traders remain committed to their multi-week distribution event.

What's next for Bitcoin price? Over the past few years, Bitcoin's price has loosely followed the performance of U.S. spot $BTC ETFs, because nothing screams organic price discovery like a derivative product. For instance, $BTC failed to rally above $82,000 last month, leading to a capitulation to around $60,762 on Friday, as U.S. spot $BTC ETFs recorded nearly two consecutive weeks of outflows. $BTC/USD 1-week chart. Source: TradingView

From a technical analysis standpoint, Bitcoin's price retested its February lows around $60,000 in early June following its capitulation. If U.S. spot $BTC ETFs continue to accumulate more Bitcoin, a potential rebound could emerge. However, if BlackRock's IBIT leads other spot ETF issuers in distribution, a sell-off to $52,000 could be inevitable, as per analysis shared by Aksel Kibar, an ex-fund manager.