Bitcoin Slips as ETF Outflows and Altcoin Selling Weigh
Bitcoin fell below its 50-day moving average for the first time since August, ending a 66-day run above the indicator. US spot Bitcoin ETFs recorded $137.9 million in net outflows on Friday, following $635.6 million in outflows the previous day. The two-day total was about $773.5 million. Bitcoin remained roughly 10% above its 200-day moving average.
Maelstrom, the investment firm led by Arthur Hayes, sold its ETH, ENA, UNI and other altcoin positions to take profits. Hayes said macroeconomic and geopolitical uncertainty could push crypto prices lower before a recovery, and that he would wait for clearer signals before re-entering.
Other developments included CZ’s support for BNB Chain’s new high-performance Layer 1 plan, describing its approach as “multiple chains, one coin”; a reported 43 DeFi price-manipulation attacks in 2026, exceeding the previous annual record of 27; and plans by Stripe and Plasma to expand stablecoin payment cards to more than 100 countries by 2027. The news presents a mixed outlook: near-term Bitcoin and altcoin trading faces pressure from technical weakness, ETF withdrawals and cautious positioning, while payment adoption and infrastructure development point to longer-term growth.
Bearish
The immediate market signal is bearish, particularly for Bitcoin and high-beta altcoins. Bitcoin’s first close below its 50-day moving average since August may prompt technical traders to reduce exposure or place stop-loss orders. The two consecutive days of US spot Bitcoin ETF outflows, totalling about $773.5 million, add evidence of near-term demand weakness. Hayes’ decision to exit several altcoin positions may also reinforce cautious sentiment, although it reflects one investor’s positioning rather than a broad measure of market flows.
Similar episodes of ETF outflows and breaks below widely watched moving averages have often increased short-term volatility, especially when leveraged positions are vulnerable to liquidation. Traders may watch whether Bitcoin holds above its 200-day average, which remains about 10% below the current price, and whether ETF flows turn positive. A sustained move back above the 50-day average could ease selling pressure; continued outflows or a break toward the 200-day average could deepen it. The outlook is not uniformly negative: stablecoin payment expansion and new blockchain infrastructure may support adoption over the longer term, but they are unlikely to offset immediate macroeconomic, geopolitical and positioning risks.