One such group is the on-chain data analysts who called the emergence of the bear market based on the decline in apparent demand. Using this same model, a prominent market researcher has come forward with a potential catalyst for Bitcoin’s price recovery.
Bitcoin ETFs Kick Off 2026 With $1.8 Billion OutflowsThis cautious stance from investors and “contraction in liquidity” has had a significant effect on the market, as prices keep tumbling to new lows every other week. Darkfost highlighted that early 2026 has looked more like a period of risk reduction on the spot Bitcoin ETF side, which has been largely driven by substantial capital inflows and strong speculative momentum.
Darkfost wrote in the X post:
Market participants appear to be reassessing their risk exposure in a more uncertain macroeconomic and geopolitical environment.
Unsurprisingly, recent on-chain data support the increasing apathy of investors towards the Bitcoin ETF market. According to data highlighted by Darkfost, the year 2026 is starting with around $1.8 billion in net outflows, which is in stark contrast to the strongly positive levels witnessed in 2024 and at the start of 2025.
Hence, this trend shows that the current weakness in demand seems more like a gradual decline than a sudden drop. In any case, this demand weakness has left the Bitcoin market unprotected and more vulnerable to selling pressure and short-term volatility.
Bitcoin Price At A GlanceAs of this writing, the price of BTC stands at around $70,600, reflecting an almost 2% jump in the past 24 hours.
