US spot Bitcoin exchange-traded funds (ETFs) saw heightened selling on Thursday, with outflows accelerating the same day Standard Chartered lowered its 2026 Bitcoin forecast.
Spot Bitcoin (BTC) ETFs recorded $410.4 million in outflows, extending weekly losses to $375.1 million, according to SoSoValue data.
Unless Friday brings substantial inflows, the funds are on track for a fourth consecutive week of losses, with assets under management (AUM) nearing $80 billion, down from a peak of almost $170 billion in October 2025.
The selling coincided with Standard Chartered lowering its 2026 Bitcoin target from $150,000 to $100,000, warning that prices could fall to $50,000 before recovering.
โWe expect further price capitulation over the next few months,โ the bank said in a Thursday report shared with Cointelegraph, forecasting Bitcoin to drop to $50,000 and Ether (ETH) to $1,400.
โOnce those lows are reached, we expect a price recovery for the remainder of the year,โ Standard Chartered added, projecting year-end prices for BTC and ETH at $100,000 and $4,000, respectively.
Solana ETFs the only winners amid heavy crypto ETF outflows
Negative sentiment persisted across all 11 Bitcoin ETF products, with BlackRockโs iShares Bitcoin Trust ETF (IBIT) and the Fidelity Wise Origin Bitcoin Fund suffering the largest outflows of $157.6 million and $104.1 million, respectively, according to Farside.
Ether ETFs faced similar pressure, with $113.1 million in daily outflows dragging weekly outflows to $171.4 million, marking a potential fourth consecutive week of losses.
XRP (XRP) ETFs saw their first outflows of $6.4 million since Feb. 3, while Solana (SOL) ETFs bucked the trend, recording a minor $2.7 million in inflows.
Extreme bear phase not yet here as analysts expect $55,000 bottom
Standard Charteredโs latest Bitcoin forecast follows previous analyst forecasts that Bitcoin could dip below $60,000 before testing a recovery.
Crypto analytics platform CryptoQuant reiterated that realized price support remains at around $55,000 and has not yet been tested.
โBitcoinโs ultimate bear market bottom is around $55,000 today,โ CryptoQuant said in a weekly update shared with Cointelegraph.
โMarket cycle indicators remain in the bear phase, not extreme bear phase,โ CryptoQuant noted, adding: โOur Bull-Bear Market Cycle Indicator has not entered the Extreme Bear regime that historically marks the start of bottoming processes, which typically persist for several months.โ
Related: Bernstein calls Bitcoin sell-off โweakest bear caseโ on record, keeps $150K 2026 target
Bitcoin hovered around $66,000 on Thursday, briefly dipping to $65,250, according to CoinGecko data.
Despite ongoing selling pressure, long-term holder (LTH) behavior does not indicate capitulation, with holders currently selling around breakeven. โHistorical bear market bottoms formed when LTHs endured 30โ40% losses, indicating further downside may be required for a full reset,โ CryptoQuant added.
Magazine: Bitcoin difficulty plunges, Buterin sells off Ethereum: Hodlerโs Digest, Feb. 1 โ 7
