Bitcoin exchange-traded funds (ETFs) have been facing heavy outflows, with investors pulling billions from the market in recent weeks. Recent data shows that U.S. Bitcoin spot ETFs recorded over $900 million in net outflows in just one week. Over the past five weeks, the total outflows have reached $5.5 billion, showing a shift in investor sentiment.
Investors Withdraw $5.5 Billion From Market
Bitcoin ETFs had a strong start, but things have changed in recent weeks. The funds have now seen their longest period of outflows since launching in January last year. Many investors are choosing to exit the market due to growing uncertainty.
One key reason behind this trend is the recent policies of U.S. President Donald Trump. While he has shown support for crypto, investors seem more concerned about his aggressive trade policies and potential economic uncertainty.
This has led to a broader sell-off in riskier assets, including Bitcoin and other cryptocurrencies.
Biggest Bitcoin ETFs Hit Hard
Among the 12 Bitcoin ETFs in the U.S., BlackRock’s IBIT fund saw the largest withdrawals, with net outflows of $338.1 million in just one week. Fidelity’s FBTC followed closely, losing $307.4 million.
Other funds, including Ark’s ARKB, Invesco’s BTCO, Franklin Templeton’s EZBC, and WisdomTree’s BTCW, also recorded losses ranging from $33 million to $81 million.
On the other hand, Grayscale’s GBTC was the only fund to record net inflows, adding $5.5 million. Meanwhile, Bitwise’s BITB, Valkyrie’s BRRR, and VanEck’s HODL saw minor outflows of less than $4 million each.
Meanwhile, Bitcoin price itself has been under pressure, trading below $84,000 and showing little movement over the past 24 hours. However, the larger trend remains bearish, with Bitcoin down nearly 17% since late January.
Even though, Ethereum has also suffered trading below $2000 and hitting three-month lows amid weak market sentiment.
What’s Next for Crypto ETFs?
Despite these challenges, asset managers continue to push for new crypto ETFs. Some firms have applied for funds based on cryptocurrencies like XRP, Litecoin, Cardano, Polkadot, and Solana. If approved by the U.S. Securities and Exchange Commission (SEC), these funds could help bring fresh interest into the crypto market.
Although Bitcoin ETFs are facing difficulties now, positive regulatory news or a shift in investor sentiment could lead to a strong recovery soon.
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President Donald Trump will address Blockworks’ Digital Asset Summit (DAS) in New York City on March 20. This marks the first time a sitting U.S. president has spoken at a Bitcoin and cryptocurrency conference. His participation underscores the growing role of digital assets in financial policy and government strategy.
The event follows his executive order establishing the U.S. Strategic Bitcoin Reserve, positioning BTC as a key asset in the country’s financial framework.
Donald Trump Speech at DAS and Its Context
Donald Trump’s presence at the Digital Asset Summit comes amid increasing government interest in Bitcoin and digital currencies. His administration has taken steps to integrate Bitcoin into national reserves, emphasizing its role in the country’s long-term financial strategy.
The U.S. president previously addressed a Bitcoin conference in Nashville during his campaign. Now, the pro-crypto President will speak at a crypto conference for the first time.
Discussions at the event will focus on Bitcoin’s adoption among institutions, regulatory developments, and the future of crypto markets. Trump’s speech will touch on the next steps in his administration’s Bitcoin strategy.
This development comes just a few hours after Ripple CEO Brad Garlinghouse revealed that XRP is expected to be part of the US Digital Asset Stockpile. He cited President Trump’s previous mention of the asset on Truth Social.
The U.S. Strategic Bitcoin Reserve Initiative
Earlier this month, President Trump signed an executive order establishing the U.S. Strategic Bitcoin Reserve, marking a new phase in the country’s approach to digital assets. The initiative aims to accumulate Bitcoin as a national reserve asset, drawing comparisons to traditional gold reserves.
Bo Hines, Executive Director on Digital Assets for the Trump administration, stated that the government’s Bitcoin acquisition strategy is budget-neutral. He emphasized that this approach ensures it does not affect other financial priorities.
Hines has emphasized that Bitcoin accumulation is part of a broader strategy to strengthen the nation’s financial resilience. Lawmakers have already proposed measures to expand the reserve, with Senator Cynthia Lummis and Congressman Nick Begich suggesting a plan to acquire 1 million BTC over the next five years. The proposal is currently under review, with legislative discussions expected to continue in the coming months.
More so, the Executive Director of the Presidential Working Group on Digital Assets revealed plans for stablecoin legislation to be finalized within two months. Bo Hines expects Senator Bill Hagerty’s GENIUS Act to be enacted, with President Trump potentially signing it into law.
Industry Leaders and Lawmakers at DAS
The summit will feature key figures in the cryptocurrency and financial sectors, in addition to Trump’s address. Michael Saylor, a Bitcoin advocate, will deliver a keynote speech and participate in a discussion with BTC historian Pete Rizzo.
The event will also host Bloomberg ETF analyst James Seyffart, who will moderate a panel featuring BlackRock’s Head of Digital Assets, Robbie Mitchnick, and Nasdaq’s Head of U.S. Equities & Exchange-Traded Products, Giang Bui.
President Trump’s participation in the Digital Asset Summit is changing how people view digital assets.
On Wednesday, US Federal court decided to strike down Trump tariffs, right from the “Liberation Day’ last month, citing the overreach of power. The U.S. Court of International Trade further stated that under the economic emergency laws, President Trump lacks the authority to unilaterally impose global tariffs. This might help ease the ongoing trade tensions while allowing the Federal Reserve to boldly make decisions by eliminating uncertainties. Crypto market veteran Arthur Hayes believes that it’s time to ‘buy everything’. What’s Next As US Court Strikes Down Trump Tariffs? If the US court upholds its decision on “reciprocal tariffs”, it could have far-reaching implications, such as the refunding of all tariffs collected since April 2. This could amount to $10 billion worth of refunds as per the calculations of 2024 U.S. import levels. The decision covers the 10% baseline tariff applied to all nations, along with higher rates imposed on specific… Read More at Coingape.com
Bitcoin price consolidates above the $84,600 on Sunday, April 20. Having closed eight consecutive sessions above the $80,000 mark, on-chain data trends suggest BTC market outlook for the week ahead remains bullish despite regulatory pressures on Coinbase.
Oregon State to Sue Coinbase as Bitcoin Price Holds Above $80,000 for Consecutive Days
Oregon Attorney General Dan Rayfield has filed a securities enforcement action against Coinbase, alleging that the exchange facilitated the sale of unregistered crypto assets, exposing investors to significant risk.
In the lawsuit, Oregon state alleges that Coinbase has encouraged the sale of unregistered cryptocurrencies to people in Oregon exposing residents to risk of pump-and-dump schemes and fraud.
“After building trust with Oregon consumers, Coinbase sold high risk investments without them being properly vetted to protect consumers Oregonians lost money, and we believe Coinbase should be held accountable and take steps to protect consumers.”
The complaint accuses Coinbase of misleading consumers in Oregon by offering high-risk digital assets without sufficient oversight.
In response, Coinbase’s Chief Legal Officer, Paul Grewal, called the suit a “desperate scheme” and “a giant leap backwards” in crypto policy progress.
Despite this legal headwind, Bitcoin has remained resilient. Following a sharp decline to $74,300 on April 9, triggered by China’s new tariffs on U.S. tech, BTC swiftly rebounded after the U.S. Consumer Price Index for March came in lower than expected.
Bitcoin price action, April 20, 2025 | Source: Coingecko
Bitcoin price is trading at $84,500 at press time on April 20, having closed above $83,000 for eight consecutive trading sessions.
This steady uptrend, even in the face of a fresh regulatory attack, suggests that the market sees the lawsuit as isolated to Coinbase—not a major threat to Bitcoin’s near-term price prospects. With continued institutional interest and technical strength holding above key support, BTC price appears poised to maintain positive momentum in the week ahead
BTC Showing Resilience to U.S. Pressures
Bitcoin’s recent price action showcases strength relative to U.S. equities, particularly in the tech sector.
While flagship stocks such as NVIDIA and Microsoft grapple with declining investor sentiment, Bitcoin continues to draw inflows and sustain support.
US Tech Stocks Heatmap, April 20| Source: TradingView
NVIDIA shares dropped over 7% this week following a $5.5 billion charge related to China export compliance. The erasing billions in market capitalization for adjacent US tech stocks including Microsoft, Tesla, and Apple.
Against this backdrop, Bitcoin has appreciated nearly 12% since April 12.
More so, Lower-than-expected jobless claims last week increased pressure on the Fed to maintain a hawkish stance—yet BTC has continued its upward trajectory, bucking the risk-off trend.
This decoupling signals renewed investor conviction in Bitcoin as a long-term macro asset, especially as U.S. fiscal policy and central bank dynamics introduce heightened volatility to traditional markets.
Investors Pull 14,000 BTC from Exchanges in the Last 8 Days as BTC Sets Up Local Bottom
A critical on-chain indicators supporting the current BTC rally is the notable drop in exchange-held Bitcoin.
Data from CryptoQuant shows that more than 14,000 BTC have been withdrawn from centralized exchanges since April 12, aligning with the day Bitcoin reclaimed the $80,000 level.
Bitcoin Price vs. BTC Exchange Reserves, April 2025 | Source: CryptoQuant
These outflows suggest increasing long-term conviction among holders, reducing available supply for trading and heightening the potential for price appreciation. Historically, sustained withdrawal activity often marks local bottoms and preludes major bullish cycles.
The drop in exchange balances comes at a time of increased spot demand—especially with platforms like Charles Schwab signaling intentions to enter direct crypto spot trading.
As regulatory uncertainty begins to decouple from Bitcoin’s price performance, investors appear to be front-running the next wave of institutional participation.
In conclusion, while the Oregon lawsuit against Coinbase may create noise in the short term, Bitcoin’s structural and technical foundation remains intact. A continued consolidation above $83,000—paired with supply contraction and strong macro divergence—puts the $90,000 and $100,000 targets well within reach for Q2.
Bitcoin price is consolidating below a descending trendline resistance near $85,489, with short-term support from the 4-day SMA at $84,632. As see in the Bitcoin price forecast chart below, BTC has formed a coiling pattern with higher lows and marginally lower highs—often a prelude to a decisive breakout.
On April 20, BTC closed at $84,594, holding above the critical $84K level for the eighth consecutive session, suggesting persistent underlying demand.
Bitcoin Technical Analysis Today
The Average Daily Range (ADR) remains muted at 3.06, indicating consolidation but also priming BTC for a potential expansion in volatility.
Meanwhile, the bullish BBP (Buy Balance Power) reading at 1,553.76 reinforces near-term strength, showing that buying momentum is outpacing sell pressure. Volume has declined modestly, but the broader context of consistent closes above $83,000 reflects solid market absorption.
Bitcoin price forecast today leans bullish as the 4-day SMA trends above price, creating a compression zone between it and the 60-SMA. A daily candle close above $85,500 could confirm a breakout, targeting $88,000 short term. Failure to hold $84,000 would re-expose $82,300 as interim support.
