Bitcoin ETF outflows for five consecutive weeks, market waits anxiously for NVIDIA earnings report

Last week, U.S. stocks experienced volatility amid concerns over AI software stocks and the Supreme Court’s tariff ruling. The cryptocurrency market continued to consolidate, with Bitcoin spot ETFs recording five consecutive weeks of net outflows, indicating a more cautious attitude toward risk assets. Looking ahead this week, market focus will be on NVIDIA’s upcoming earnings report and the U.S. January PPI data.

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Last Week’s Market Review

Due to ongoing concerns about AI impacting software profits, U.S. stocks fell and then recovered during Taiwan’s holiday period. The optimism from the Supreme Court’s tariff decision offset worries about escalating U.S.-Iran tensions. ETFs tracking emerging markets hit record highs. The dollar declined 0.2%, with weekly gains narrowing to 0.6%.

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On Friday, influenced by mixed economic growth and inflation data, the 10-year U.S. Treasury yield rose 2 basis points to 4.08% amid volatility, while the tariff ruling heightened concerns over potential budget deficits. Due to a Japanese holiday today, U.S. Treasuries are closed in Asian trading on Monday.

Asian stock index futures suggest a flat open for Australian stocks, while Hong Kong stocks may rise, though these trends occurred before Trump announced the tariff hike. Chinese markets are closed for the holiday.

In commodities, traders are watching the oil market closely as the U.S. and Iran are set to resume negotiations in Geneva to seek a diplomatic resolution to the latest deadlock over Tehran’s nuclear program.

Bitcoin remains range-bound, with ETF funds continuing to flow out

Bitcoin continues to trade within a range, currently around $67,500. According to SoSoValue data, U.S. spot Bitcoin ETFs saw a net outflow of $316 million last week, marking five consecutive weeks of outflows—the longest since February to March 2025.

The last similar streak occurred in February and March of last year, with five consecutive weeks of redemptions totaling about $5.4 billion, coinciding with President Trump’s sudden tariff announcement and a sharp reduction in risk assets. While the current streak matches in duration, the scale is smaller. The most significant outflows occurred in late January, with two consecutive weeks losing $1.33 billion and $1.49 billion, respectively. Recent three-week inflows have been modest, ranging from $316 million to $360 million weekly.

NVIDIA’s earnings report this week is a key focus

NVIDIA will release its earnings on February 25 (Eastern Time). The market expects revenue to reach $65 billion, with attention on the reopening of Chinese chip exports and the impact of OpenAI’s Stargate project on computing demand. The focus of this earnings report has shifted from simply beating revenue estimates to guidance on Blackwell chip shipments, gross margin changes, and order visibility following large purchases by cloud giants like Meta. Market expectations are very high, leaving little room for error.

On Friday (February 27), the January PPI data will provide further clues about U.S. inflation prospects. HSBC economists recently forecast a monthly increase of 0.3%, with the annual rate slowing from 3% in December to 2.8%.

This article, titled “Bitcoin ETF Continues Outflows for Five Weeks, Market Awaits NVIDIA Earnings,” first appeared on Chain News ABMedia.