U.S. spot Bitcoin exchange-traded funds (ETFs) experienced intensified selling pressure on Thursday, with outflows rising on the same day Standard Chartered revised down its 2026 Bitcoin price forecast.
Spot Bitcoin ETFs posted $410.4 million in net outflows, bringing total weekly losses to $375.1 million, according to data from SoSoValue.
If significant inflows fail to materialize on Friday, the funds are poised to record a fourth straight week of net losses. Assets under management have fallen to around $80 billion, a sharp decline from their peak of nearly $170 billion in October 2025.
The market downturn came as Standard Chartered cut its 2026 Bitcoin price target from $150,000 to $100,000, cautioning that the asset could slide to $50,000 before staging a rebound.
In a Thursday report shared with Cointelegraph, the bank said it expects further near-term capitulation, projecting Bitcoin could fall to $50,000 and Ethereum (ETH) to $1,400. It added that once those lows are reached, prices are likely to recover later in the year, forecasting year-end levels of $100,000 for BTC and $4,000 for ETH.
Solana ETFs stand out amid broad crypto fund outflows
Outflows were recorded across all 11 Bitcoin ETF products, with BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund seeing the steepest withdrawals — $157.6 million and $104.1 million, respectively — according to data from Farside Investors.
Spot Ether ETFs also experienced heavy selling, shedding $113.1 million and pushing weekly outflows to $171.4 million, putting them on track for a fourth consecutive week of losses.
Meanwhile, XRP ETFs recorded their first outflows since Feb. 3, totaling $6.4 million. Solana (SOL) ETFs were the only products to post net inflows, albeit a modest $2.7 million.
Analysts eye $55,000 as potential floor
Standard Chartered’s updated outlook aligns with earlier projections suggesting Bitcoin could dip below $60,000 before recovering.
Analytics firm CryptoQuant said in its weekly report that Bitcoin’s realized price support sits near $55,000 and has yet to be tested.
“Bitcoin’s ultimate bear market bottom is around $55,000 today,” CryptoQuant stated.
“Market cycle indicators remain in the bear phase, not the extreme bear phase,” CryptoQuant said, adding that its Bull-Bear Market Cycle Indicator has yet to enter the “Extreme Bear” zone that has historically signaled the beginning of prolonged bottoming periods lasting several months.
Bitcoin traded near $66,000 on Thursday and briefly slipped to $65,250, according to data from CoinGecko.
Despite persistent selling pressure, long-term holder (LTH) activity does not yet suggest capitulation. CryptoQuant noted that many holders are currently selling around breakeven levels. Historically, bear market bottoms have formed when long-term holders absorbed losses of 30% to 40%, indicating that further downside may be necessary before a full market reset occurs.
