On a day of divergent trends in the cryptocurrency market, Bitcoin exchange-traded funds (ETFs) experienced a significant net outflow of $60.63 million. In contrast, Ether ETFs witnessed a modest net inflow, with $4.60 million being added to these funds.

Leading the outflow for Bitcoin ETFs was Bitwise's BITB, which saw investors withdraw a substantial $112.65 million. This was followed by Fidelity's FBTC, which experienced a $16.42 million outflow. However, Blackrock (NYSE: BLK )'s IBIT provided a silver lining by securing an inflow of $68.44 million, which helped to mitigate the overall outflow from Bitcoin ETFs. Other Bitcoin funds reported a neutral stance with no notable inflows or outflows.

In the Ether ETF market, the activity was relatively subdued, with Fidelity's FETH being the only fund to report an inflow, which amounted to $4.60 million. The rest of the Ether ETFs saw no significant capital movements, maintaining a neutral position for the day.

The cryptocurrency market has been facing a bearish sentiment, which is evident in the trading volumes and patterns of Bitcoin and Ether ETFs. Since the beginning of February, Bitcoin ETFs have recorded only 4 days with net inflows, compared to 7 days with net outflows.

The total net inflows for Bitcoin ETFs during this month amount to $644.58 million, while the net outflows have reached a higher figure of $1.09 billion, indicating a challenging period for these investment vehicles.