With Christmas and New Year’s Day approaching, the cryptocurrency market seems to have entered a “hibernation mode.” US Bitcoin and Ethereum spot ETFs collectively lost value on Tuesday, mainly due to year-end asset rebalancing and liquidity tightening before the long holiday, with profit-taking selling pressure clearly increasing.
According to SoSoValue data, the US Bitcoin spot ETF experienced a net outflow of $188.6 million on Tuesday, marking the fourth consecutive day of withdrawals. Among them, BlackRock’s IBIT suffered the heaviest outflow, with a net outflow of $157.3 million in a single day; Fidelity’s FBTC and Grayscale’s GBTC also were not spared.
On the other hand, Ethereum spot ETFs also saw a net outflow of $95.5 million on Tuesday, contrasting sharply with the previous day’s net inflow of $84.6 million. Grayscale’s ETHE alone saw a single-day outflow of $50.9 million, the largest among all Ethereum ETFs that day.
Kronos Research Chief Investment Officer Vincent Liu analyzed that the outflow of funds from Bitcoin and Ethereum ETFs mainly reflects the end-of-year market mechanisms rather than a loss of investor confidence. Insufficient liquidity, portfolio rebalancing, and profit-taking are the main factors causing market weakness.
Nick Ruck, head of LVRG Research, also expressed similar views. He added that, besides seasonal profit-taking and declining liquidity, tax-loss selling (selling at a loss to offset taxes) is also a reason for recent capital outflows.
Presto Research researcher Rick Maeda reminded that market over-interpretation of ETF fund changes before Christmas is unwarranted. He pointed out that the fund flows of Bitcoin and Ethereum ETFs have been volatile in recent months, and end-of-year risk reduction and book adjustments are normal phenomena, especially after increased volatility in Q4.
Comparing with last year’s data, Maeda noted that in the four trading days before Christmas 2024, Bitcoin spot ETFs experienced net outflows exceeding $1.5 billion, when prices were correcting from all-time highs. In contrast, he considers this year’s fund withdrawal to be relatively moderate.
According to CoinGecko data, Bitcoin is priced at $86,755 at the time of writing, down 0.7% in the past 24 hours; Ethereum has fallen 2.3% to $2,918.
However, not all crypto ETFs faced selling pressure. Ripple (XRP) spot ETF still saw an inflow of $8.2 million on Tuesday; Solana (SOL) spot ETF also recorded a net inflow of $4.2 million.
Contrary to the trend in the crypto market, the US stock market closed higher across the board on Tuesday. The S&P 500 rose 0.46%, closing at 6,909.79 points, reaching a new all-time high; the Nasdaq increased by 0.57%, and the Dow Jones Industrial Average also gained slightly by 0.16%.
The US stock market closed early on December 24 and was closed on December 25 for Christmas. Market consensus generally believes that the market reaction after the long holiday and economic indicators will be the real key, as these will serve as important clues for observing the market trend in early 2026.
“The real signals will appear after the holiday,” Vincent Liu pointed out. “Investors should closely monitor liquidity reflows, whether prices are once again leading capital flows, and the US initial jobless claims to be released on December 27.”
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Russia's Central Bank Plans to Open Ethereum Digital Asset Channel to Break Through Sanctions and Attract Foreign Investment
The Russian Central Bank plans to submit a proposal allowing digital financial assets (DFA) to circulate on open blockchains such as Ethereum to counter Western sanctions and attract foreign investment. If the bill passes in 2026, it will improve the current market structure that relies on domestic demand and provide new opportunities for Russian enterprises in international capital markets. However, technical integration and legal barriers still need to be overcome.
MarketWhisper15m ago
Still complaining about high on-chain fees? Ethereum Gas drops to $0.01, hitting an all-time low
Recently, Ethereum's average Gas price has dropped to approximately 0.045 Gwei, with transaction fees significantly reduced. With the growth of Layer2 scaling technology and multiple upgrades driving improvements, Ethereum's transaction fees have declined over 90% from their peak. Despite ongoing market price pressure, activity in the Ethereum ecosystem remains undiminished, with usage demand still strong, pushing overall transaction costs below traditional bank transfers.
区块客33m ago
In the past 24 hours, liquidations across the network reached $392 million, with short position liquidations accounting for over 60%.
Gate News, on March 17th, according to CoinAnk data, the entire network liquidated $392 million in the past 24 hours. Among these, long positions liquidated approximately $144 million, short positions liquidated approximately $248 million, with short position liquidations accounting for 63% of the total. By cryptocurrency, Bitcoin liquidations were approximately $147 million, and Ethereum liquidations were approximately $115 million.
GateNews33m ago
Ethereum Repeats Historic Pattern: Could Cycle Three Trigger Another Massive Rally?
Ethereum cycles repeat: consolidation, trendline retest, then major expansion phases.
The current cycle shows smaller returns, reflecting Ethereum’s growing market maturity.
$2K support remains critical for confirming continuation of the third cycle.
Ethereum’s ETH is printing a
CryptoNewsLand1h ago
An institution-linked whale increased its long position by 6,000 ETH near $2,300 for ETH.
A certain crypto financial institution increased its ETH long position by 6,000 ETH when the price pulled back near $2,300, bringing the total position value to $82.95 million with floating profits of approximately $9.4 million, yielding a return rate of 169%. The institution is the largest ETH bull on-chain, with affiliated addresses also holding substantial amounts of ETH.
GateNews1h ago
Bitcoin Spot ETF Saw $760 Million in Inflows Last Week! But Whether the Rally Continues Requires Monitoring 3 Key Factors
US cryptocurrency spot ETFs showed a significant rebound last week, with Bitcoin and Ethereum recording net inflows of approximately $763.4 million and $160.9 million respectively, with prices bouncing back accordingly. Although the market is showing incremental buying signals, it still faces variables from central bank policies and geopolitical risks in the future. The market will continue to monitor ETF capital inflows and macroeconomic impacts.
CryptoCity1h ago
