#BTCWhaleMovement BTC dropped to $107,000 despite an inflow of $1 billion into spot BTC ETFs

The drop in Bitcoin reflects market anxiety about the U.S. economy and inactive BTC wallets moving billions of dollars in BTC.

BTC dropped to $107,000 despite an inflow of $1 billion into spot BTC ETFs

Market Analysis

Key Points:

Despite $1 billion in inflows from spot BTC ETFs, Bitcoin fell 2.8% as the market digested a wallet transfer of billions of dollars from the 2011 era.

U.S. import tariffs and fiscal deficits are likely weighing on Bitcoin investor sentiment.

Bitcoin

BTC

€91,832

traded down to $107,400 on Friday after facing strong resistance near the $110,500 level on Thursday. The drop coincided with $1 billion in net inflows into spot Bitcoin exchange-traded funds (ETFs) over two days. Traders are now scrambling to justify the 2.8% decline, even though BTC had remained around $107,400 for most of the previous week.

Net inflows from spot Bitcoin ETFs, US$. Source: CoinGlass

This drop could simply reflect profit-taking ahead of the weekend, particularly given that Bitcoin was only 1.5% below its all-time high. Investors remain wary of potential negative effects from a global trade war, especially after U.S. President Donald Trump reaffirmed Wednesday's deadline for raising import tariffs.

Inactive Bitcoin wallet spooks the market by moving 80,000 BTC

Some market participants argue that investors were alarmed after a long-inactive Bitcoin wallet moved coins for the first time in years.