Bitcoin institutional outflows continued into Christmas with the US being the biggest seller, as Bitcoin ETF netflows remained negative, losing $175 million due to tax obligations and quarterly options expiry. Despite the poor performance, hope remains for a rebound after the holiday season. Data from Farside Investors shows net outflows of $175 million on Christmas Eve, contributing to a total of $825.7 million in outflows since Dec.15. The US spot Bitcoin ETF netflows have been negative, with the market attributing the weak performance to tax loss harvesting and options expiry, leading to a lack of buyer demand in the US. Bitcoin and Ether ETFs have been stuck since early November, with negative netflows indicating inactive liquidity rather than destruction. Trader BitBull suggests that a trend change will likely start with positive ETF flows before a strong price move.

Read more at Cointelegraph: Bitcoin ETFs See $175 Million Outflows on Christmas Eve