Blockchain Index

Spot Bitcoin ETFs Face Heavy Outflows Amid Macro Uncertainty

Spot Bitcoin ETFs are under pressure after a sharp $795 million in total digital asset fund outflows last week, according to CoinShares. Of that, Bitcoin investment products accounted for $751 million—marking the third consecutive week of redemptions and a clear shift in investor sentiment.

Net outflows since February have now climbed to $7.2 billion, nearly erasing the year’s gains and leaving just $165 million in net inflows. This retreat coincides with broader macroeconomic concerns, including escalating U.S.–China trade tensions and renewed recession fears.

Bitcoin remains positive on the year with $545 million in inflows, but the tide appears to be turning. Even short-Bitcoin products saw $4.6 million in outflows, suggesting that investors aren’t just bearish—they’re stepping away from crypto exposure entirely.

Assets under management in crypto ETFs have dropped to $130 billion, the lowest level since November 2024. Until macro clarity returns or BTC can break decisively above $86,000, caution will likely dominate ETF-related flows. The market’s next move hinges on global stability and a rebound in institutional confidence.

Solana Surges Against Ethereum, But Path to $300 Faces Onchain Hurdles

Solana has delivered an impressive 30% weekly gain in USD and a 20% rally against Ethereum, pushing the SOL/ETH ratio to a multimonth high of 0.080 on April 13. This marks its strongest weekly close versus ETH in history, suggesting increasing investor preference for Solana amid broader market strength.

The hourly chart shows SOL consolidating near $129.54 with visible resistance around $135.55. Bollinger Bands are beginning to narrow, signaling potential upcoming volatility, while RSI has declined to 45.75, suggesting weakening momentum in the short term.

While traders are targeting a breakout toward $300 based on historical patterns from Ethereum’s 2021 run, onchain data tells a more cautious story. Solana’s daily transaction fees have dropped over 97% since January, and DEX volumes have plummeted from $35.9 billion to just $2.17 billion, highlighting reduced user activity across key platforms.

The lack of rising network demand may cap SOL's near-term upside despite bullish sentiment. For a sustainable move toward $300, renewed activity on Solana’s DeFi ecosystem and an uptick in fees and transaction volumes will likely be necessary. Until then, technical resistance and fundamental headwinds could limit further breakout potential.

Bitcoin Price Stagnates Amid Policy Uncertainty and Technical Resistance

Bitcoin continues to trade sideways, consolidating tightly between $83,000 and $86,000 over the past five days. Despite occasional surges in intraday volatility, the price has failed to sustain momentum, with the 200-day simple moving average acting as firm resistance.

A key reason for this stagnation is market uncertainty tied to U.S. policy signals. President Trump’s recent announcements regarding tariffs on semiconductors and tech components were followed by contradictory statements from officials, leaving investors unsure of the economic direction. This ambiguity has muted broader risk appetite, impacting crypto assets like Bitcoin that often respond strongly to regulatory clarity.

On the technical side, Bitcoin remains trapped between its 50-day SMA at $84,400 and the 200-day SMA at $87,500. The RSI sits just under 60, indicating market indecision and a neutral trend without strong bullish or bearish bias. Daily volume has begun ticking up slightly, currently at $556 million, but not yet enough to break the consolidation pattern.

Until Bitcoin decisively breaks above $87,500 or falls below $84,000, traders can expect continued range-bound action. A clear breakout in either direction will likely be dictated by macroeconomic clarity and a shift in buyer-seller momentum.

Ethereum Technical Outlook – $1,800 Support Faces Test Amid STH Capitulation

$ETH recently bounced from the $1,800 level following $400M in realized losses by short-term holders, driven by rising macro uncertainty around Trump's tariff plans. Despite the heavy selling, the RSI on the hourly chart has climbed to 58.98, showing mild bullish divergence as price attempts to recover above the mid-Bollinger Band ($1,831).

Staking flows surged by 530K $ETH this month, offsetting exchange outflows of 940K ETH, and signaling long-term conviction remains strong.

If $ETH holds above $1,800, it could maintain consolidation and build toward $2,070. However, a breakdown below that level may validate a bearish continuation, with $1,500 as the next key support. Traders should monitor volume, RSI trends, and staking flow resilience closely as April 2 approaches. 

Solana Futures ETFs Launch With Modest Traction

Volatility Shares debuted two Solana-based futures ETFs on March 20—SOLZ and the leveraged 2x SOLT. While both funds saw daily average volumes of $1.25M and $2.16M respectively, the market response remains relatively muted compared to earlier crypto ETF launches. Despite stable performance, the lack of significant demand highlights a clear contrast with Bitcoin futures ETFs like ProShares BITO, which posted $204M in average daily volume during its debut week.

Bloomberg’s Eric Balchunas noted that “the further you get away from BTC, the less asset there will be,” emphasizing that Bitcoin still dominates institutional investor interest. $SOL may continue to grow in relevance, especially with its expanding ecosystem and DeFi traction, but ETF demand suggests a cautious institutional approach for now. These early figures highlight how investor confidence and familiarity play a pivotal role in ETF success.