Bitcoin ETF sell-off as BTC dips below $70k on geopolitics

US spot Bitcoin ETF flows turned sharply risk-off on Thursday as BTC dipped below $70,000. The ETFs logged $171M in outflows, the biggest daily redemption since March 3. BlackRock’s IBIT led with -$41M, followed by Fidelity’s FBTC (-$32M), ARK 21Shares’ ARKB (-$30.5M), and Grayscale’s GBTC (-$24M), according to Farside Investors. Even with the Bitcoin ETF sell-off, the broader trend remains less damaged: March shows about $1.36B net inflows so far, putting ETFs on track for their first monthly net accumulation since October 2025. Market commentary suggests investors are not fully exiting—flows can flip quickly if BTC stabilizes. Price action reinforces the caution. BTC traded around $67,780 and is down nearly 5% on the week, a pattern that often increases short-term withdrawals from listed crypto products. Traders also focused on geopolitical headline risk. Reports cited US troop deployments to the Middle East, while President Trump extended a US ceasefire framework for Iranian energy infrastructure to April 6. Uncertainty can raise hedging demand and weigh on market stability. Bloomberg’s ETF analyst said the market is “one good day away” from reversing year-to-date ETF outflows, highlighting how sensitive Bitcoin ETF flows are to BTC stabilization.