Bitcoin Takes a Dramatic Plunge: $817 Million Withdrawn in Just 24 Hours!

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Once upon a time in the vast and often bewildering universe of cryptocurrency, Bitcoin decided to take a deep dive into the murky waters of red territory. Meanwhile, Bitcoin spot ETFs were experiencing a rather dramatic case of withdrawals that would make even the most seasoned financial wizards raise an eyebrow.

According to the latest findings from the esteemed oracle known as SosoValue, Bitcoin ETFs have just set a record for their largest single-day outflow of 2026, with investors pulling a staggering $817.87 million across the board. Yes, you read that right-a number so large it could potentially fund a fleet of luxury spaceships, or at least a moderately comfortable space pod.

This unfortunate plunge came just as Bitcoin was merrily trading around the lofty heights of $84,220, only to tumble downwards like a clumsy elephant on stilts, suffering a 4% decline in the last 24 hours. In fact, Bitcoin has now lost all gains it so proudly displayed earlier this year, much like a magician who accidentally reveals the secret to his best trick.

Bitcoin Loses 2026 Gains

In a twist that would leave even the most seasoned soap opera writers scratching their heads, Bitcoin has experienced a drop of about 5.37% in its year-to-date returns. This alarming statistic has sent shivers down the spines of cautious investors everywhere, particularly those dabbling in major spot ETF products like Bitcoin and Ethereum.

Despite these heavy daily losses, trading activities across Bitcoin funds remained as lively as a caffeinated squirrel, with a whopping $7.51 billion in total value changing hands. This indicates that while the market may be tumbling, investors are still actively repositioning themselves-not unlike a game of musical chairs where everyone is determined not to fall over.

BlackRock Retains Leadership Amid Sell-Offs

Now, let’s not forget the heavyweight champion of the ETF world, BlackRock, which remains firmly seated on its throne despite the chaos. The data shows that the BlackRock Bitcoin ETF led the charge in outflows on January 29, posting a hefty $317.81 million in net withdrawals. However, fear not! It still boasts a massive holding of about $64.90 billion in assets-enough to buy quite a few galaxies, if one were so inclined.

Fidelity’s FBTC wasn’t far behind, with a respectable $168.05 million in total withdrawals, while Grayscale’s GBTC continued to face pressure, seeing $119.44 million in outflows, alongside an additional $37.21 million withdrawn from its newer BTC product. It’s almost as if everyone is playing a very high-stakes game of poker, and the chips are flying off the table.

Interestingly, while all the major Bitcoin ETFs logged significant outflows, the smaller ETFs-like VanEck’s HODL, Invesco’s BTCO, and Valkyrie’s BRRR-seemed to experience a curious case of the yawns, logging little-to-no capital flows at all. Perhaps they were simply waiting for the dust to settle before diving back into the fray.

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2026-01-30 16:43