Bitcoin ETFs See Multi-Day Outflows as Pomp Calls BTC 'Oversold'
U.S. spot Bitcoin exchange-traded funds have experienced a multi-day run of net redemptions totaling roughly $1.17 billion over the last five trading days, marking their longest consecutive outflow streak in several months. Despite that pullback, crypto investor and commentator Anthony Pompliano told CNBC that Bitcoin’s spot price appears oversold at current levels near the low six-figure range.
Pompliano argued that price action and technical signals point to an oversold condition around $112,000–$113,000, and that a shift toward greater buying activity could arrive as market participants become more active heading into September and October. He suggested the period following the 2024 halving and the seasonal change in investor attention could help spark renewed demand.
The recent ETF outflows coincided with a short-term price correction: Bitcoin pulled back from a fresh intramonth high reached in mid-August. Over the last 30 days the token has moved lower, reflecting increased selling pressure from some ETF holders as well as wider market volatility.
Pompliano tempered long‑term hyperbole by saying he finds a $1 million Bitcoin this cycle unlikely, though he still thinks that level is attainable at some point in the future. He also noted that potential macro developments — including expectations around a U.S. Federal Reserve policy decision and larger institutional treasury allocations to crypto — could influence demand dynamics.
Market observers say extended outflow streaks highlight near-term investor caution, but some traders view oversold indicators and seasonal patterns as a potential setup for renewed buying. As always, analysts emphasize that macro news and ETF flows can quickly change sentiment, so traders should monitor liquidity and positioning closely.
