Bitcoin ETFs See ₱30.1 billion ($490 million) Outflows as Inflation Risks Mount

The outflows interrupted a sustained inflow period that had brought ₱202.74 billion ($3.3 billion) into spot Bitcoin ETFs since March. Bitcoin briefly dropped below $63,000 on April 27, triggering stop-loss orders before recovering to current levels. The cryptocurrency is down 14% year-to-date, but analysts argue that rising inflation could reverse institutional sentiment. US 5-year Treasury yields jumped from 3.51% two months ago to 4.02% now, eroding real returns on fixed income when adjusted for inflation.

Traders worry that reduced buying from MicroStrategy could pressure prices. Executive Chairman Michael Saylor's firm acquired 56,235 BTC in April's first four weeks at an average cost of $75,537 per coin. That accumulation pace has raised questions about whether institutional demand can sustain current price levels.

Broader market volatility added to the pressure. Meta corrected 9% on Thursday while Microsoft shares dropped 4%. The US Commerce Department reported Q1 GDP growth at 2%, below the 2.3% economists projected. Brent crude oil rallied to $126 as the war in Iran that started in late February continued to disrupt supply.

On-chain data showed Bitcoin moving to exchanges before the ETF outflows materialized, suggesting institutional actors positioned for exits ahead of actual redemptions. That pattern indicates coordinated selling rather than panic. Analysts expect reduced returns on fixed income to drive demand for scarce alternative assets like Bitcoin. Three US senators demanded an inquiry into Trump family cryptocurrency ventures this week, but the ETF outflow trend appears driven by macro factors rather than regulatory concerns. Bitcoin traded at $77,041 as of May 1, 2026.