US spot Bitcoin exchange-traded funds (ETFs) closed a third straight week in the red, deepening concerns that one of Bitcoin’s biggest institutional demand engines is stalling.

Spot Bitcoin (BTC) ETFs saw $1.1 billion in net negative outflows during the past trading week, marking their fourth-largest week of outflows on record, according to Farside Investors data.

The ETF outflows occurred during a significant correction, as Bitcoin’s price fell by over 9.9% during the past week, to trade at $95,740 at the time of writing, Cointelegraph data shows.

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Bitcoin ETF flows (in USD, million). Source: Farside Investors

Related: Metaplanet’s Bitcoin gains fall 39% as October crash pressures corporate treasuries

The recent correction marked the first pattern of an emerging “mini” bear market, according to crypto insights platform Matrixport.

“Our data showed a market losing momentum and lacking the catalysts needed for a sustained rally,” wrote Matrixport in a Friday X post, adding:

“With ETF flows weakening, OG investors reducing exposure, and macro conditions offering no immediate catalyst, the path forward remains highly dependent on upcoming policy decisions from the Federal Reserve.”

The crypto market remains in a “pivotal juncture,” as key price levels and macro triggers will determine the next significant move, according to Matrixport.

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Source: Matrixport

US spot Bitcoin ETF inflows and investments from Michael Saylor’s Strategy were the main demand drivers for Bitcoin in 2025.

Related: Bitcoin ETFs bleed $866M in second-worst day on record, but some analysts still bullish

Spot Solana (SOL) ETFs continue to defy the gravity of the cryptocurrency market, generating positive inflows despite the broader downturn.

Solana ETFs ended last week with $12 million in inflows on Friday, logging 13 days of consecutive inflows since their launch on Oct. 29.

Spot Ether (ETH) ETFs logged $177 million in outflows on Friday, marking the fourth consecutive day in the red, according to Farside Investors.

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Solana ETF flows (in USD, million). Source: Farside Investors

Despite the positive ETF inflows, Solana’s price fell 15% on the weekly chart, while Ether’s price fell 11% during the same period.

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