Bitcoin Falls to $61K as US Spot ETF Outflows Hit $2.97 Billion in Record Redemption Streak

US spot Bitcoin exchange-traded funds have recorded their longest redemption streak on record, with cumulative net outflows reaching roughly $2.97 billion, pulling $BTC to $61,000 and erasing approximately $235 billion in market value.

ETF Outflows Reach Historic Stretch

The sustained exit from US spot Bitcoin ETFs marks an unprecedented run of net redemptions, according to data tracking the funds. The $2.97 billion cumulative outflow figure represents persistent institutional and retail selling pressure across the ETF wrapper — the vehicle that gave traditional-market participants their first regulated, on-exchange route into Bitcoin exposure.

Redemptions from spot ETFs translate directly into on-chain selling: when authorized participants return shares, fund managers must liquidate the underlying Bitcoin to meet the cash obligation. A prolonged streak of net outflows at this scale therefore reflects real spot-market pressure, not simply a rotation between products.

$235 Billion in Market Value Wiped

Bitcoin's retreat to $61,000 accompanied the outflow data, with the broader drawdown accounting for roughly $235 billion stripped from market capitalization. The price level puts $BTC meaningfully off highs reached earlier in the cycle, though the source provides no specific prior peak for comparison.

The convergence of a record redemption streak with a substantial valuation decline illustrates how ETF flow data now functions as a leading sentiment gauge for the asset class. Unlike futures-based positioning, which can be rolled or hedged, spot ETF outflows require direct Bitcoin liquidation, making the $2.97 billion figure a tangible measure of demand destruction rather than a paper position shift.

What the Data Actually Shows

The record redemption streak is the headline — not the price. Prices move for many reasons; a sustained, multi-session run of net outflows from regulated spot vehicles is a harder signal. Whether the streak marks capitulation or the early stage of a longer correction, the on-chain consequence of $2.97 billion in cumulative exits is the same: Bitcoin left the funds and entered the market as supply.