Yigit Taha OZTURK 
Bitcoin exchange-traded funds (ETFs) experienced a significant outflow on December 19, with a total of $671.9 million exiting the market, marking the largest single-day outflow of the year.
According to Farside Investors data, the largest outflows came from Grayscale’s GBTC fund, which saw a drop of $208.6 million. ARK Invest’s ARKB fund also saw a decline of $108.4 million.
These outflows coincided with Bitcoin’s (BTC) price falling to $96,409 and more than $1 billion in market-wide liquidations during the same period.
According to Sosovalue data, the total net asset value of Bitcoin ETFs decreased to $109.7 billion as of December 19, a significant drop from $121.7 billion on December 17.
Market Impact
The Bitcoin ETF outflows coincided with the drop in BTC price, leading to a total net outflow of $732.4 million from crypto ETFs. Bitcoin’s market dominance remained at 57.4%.
An analyst mentioned that the ongoing market decline may be short-lived, stating that the market was “completely unprepared for bad news,” which led to the sharp downturn.
In the U.S., President-elect Donald Trump’s administration is expected to be pro-crypto. His promises of innovation have already pushed BTC price above $107,000, restoring optimism in the market.
However, U.S. investors faced some uncertainty after Fed Chairman Jerome Powell announced plans for only two rate cuts in 2025. This announcement caused the S&P 500 to drop, which has since affected the crypto market.
“Buy the Dip” Sentiment Peaks
Crypto analysis firm Santiment reported on December 19 that the ratio of social media discussions around “buying the dip” had reached its highest level in over eight months.
The social dominance score related to “buying the dip” hit 0.061, a level last seen on April 12, when BTC price dropped below $70,000.
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