
Analyst Eric Balchunas notes IBIT short positions have fallen to levels last seen before April’s rally, suggesting reduced bearish sentiment amid continued ETF outflows.
US-listed Bitcoin ETFs saw $3.5 billion in monthly outflows, nearing February’s $3.6 billion record. BlackRock’s iShares Bitcoin Trust (IBIT) led with $2.2 billion redeemed, marking its worst performance since inception. Bloomberg ETF analyst Eric Balchunas reported IBIT short positions have dropped sharply, falling to lows last seen before the April rally, indicating reduced bearish sentiment. Bitcoin prices fell to $80,553, with Citi Research estimating a $1 billion ETF outflow can impact BTC’s price by about 3.4%. The data underscores strong market volatility and shifting investor positioning.