📰 Daily Market Update:

Recent on-chain and institutional flow data is starting to paint a more cautious picture for Bitcoin price action.

📊 [Bitcoin ETF] Daily Netflow Trend

The chart tracks the daily net value (USD) of Bitcoin flows into spot BTC ETFs.

📈 Positive netflows → actual BTC buying → bullish price pressure

📉 Negative netflows → BTC selling → bearish pressure

🔬 Key Observation

📉 The chart highlights a second major negative outflow in February from BlackRock’s IBIT ETF.

📅 On February 5, IBIT recorded a massive net outflow exceeding $7.7 billion, the largest in this period.

📉 The first negative outflow occurred on February 2, with more than $4.7 billion leaving the fund.

📉 In second place, Grayscale (GBTC) also recorded a negative outflow of over $2.1 billion.

📊 BTC: UTXO Exchange Inflow SMA 7d

The chart breaks down Bitcoin inflows to exchanges based on wallet size categories, offering insight into which group is preparing to sell.

🔬 Key Observation

📈 A sharp spike in the light blue area representing Dolphin / Shark wallets.

📈 On February 5, inflows surged to 20,800 BTC.

📅 In our previous update, we already noted that February 4 saw inflows spike to 14,900 BTC.

📅 This is the first time inflows exceeded 20,800 BTC since October, when BTC was trading above $122,000.

📊 [Binance] Multi-Asset Netflow - $Value

The chart shows the net USD value flows of BTC, ETH, USDT, and USDC moving in and out of Binance, the biggest spot exchange by trading volume.

🔬 Key Observation

📈 On February 5, Bitcoin net inflows on Binance jumped to $727M.

📅 We have not seen similar BTC inflow levels since mid-November.

📉 At the same time, USDT recorded consecutive negative netflows, with the latest outflow reaching approximately –$450M.

🧠 Final Conclusion

⏲️ Historically, positive BTC alongside negative stablecoin flows are often interpreted as risk-off behavior, where market participants reduce crypto exposure.

Written by Amr Taha