Bitcoin slipped to $84,399 on March 15, posting a modest 0.47% gain after Friday’s 3.53% rise. The market remains rattled by persistent outflows from BTC-spot ETFs and uncertainty surrounding President Trump’s aggressive tariff policies.
Market turbulence pushed BTC to a low of $76,642 on March 11 before rebounding. Concerns over the U.S. Strategic Bitcoin Reserve and imbalances in supply and demand have compounded investor unease.
ETF Outflows Extend to Fifth Consecutive Week
The U.S. BTC-spot ETF market recorded net outflows of $945.4 million for the week ending March 14. This marks the fifth consecutive week of outflows, further undermining institutional demand.
IShares Bitcoin Trust (IBIT) led the exodus, which saw net outflows of $338.1 million. Fidelity Wise Origin Bitcoin Fund (FBTC) followed with $307.4 million in outflows, extending its losing streak to seven weeks. Other notable losses included Bitwise Bitcoin ETF (BITB) with $18.6 million and Ark 21Shares Bitcoin ETF (ARKB) with $160 million.
The consistent drawdown has disrupted the supply-demand balance, leaving BTC down 0.17% for March. However, a 4.33% rebound recently has provided temporary relief as optimism builds around Senator Cynthia Lummis’ Bitcoin Act.
On March 11, Senator Cynthia Lummis reintroduced the Bitcoin Act, which proposes that the U.S. government acquire one million BTC over five years with a mandatory 20-year holding period. The bill’s advancement in Congress is a potential catalyst for Bitcoin demand.
Market analysts attribute BTC’s previous rally to a record high of $109,312 in January to speculation over U.S. government accumulation and Trump’s pro-crypto stance. The Bitcoin Act’s progress is now closely monitored for its potential to offset the current bearish sentiment.
Tariffs and Recession Fears Weigh on Market Sentiment
President Trump’s Executive Order designating Bitcoin as a national Strategic Reserve Asset initially boosted market confidence. However, the lack of a directive for direct BTC acquisitions and the Treasury Department’s focus on budget-neutral strategies have disappointed investors.
Moreover, Trump’s tariff policies and looming recession fears have added downward pressure on BTC’s price. The market remains cautious as institutional investors pull back from ETFs amid broader macroeconomic uncertainty.
Bitcoin’s near-term trajectory will be influenced by several factors: the progression of the Bitcoin Act in Congress, U.S. tariff developments, and the Federal Reserve’s upcoming interest rate decision.
A bullish scenario could see ETF inflows and legislative support for BTC push the price beyond the December’s all-time high of $109,312. Conversely, further opposition to the Bitcoin Act or escalations in trade tensions could drive BTC toward the $70K mark.
