US spot Bitcoin ETFs log $96 million in net outflows after hitting peak cumulative inflows

U.S. spot Bitcoin exchange-traded funds saw $96.14 million in net outflows on Tuesday, ending a four-day streak of inflows after reaching record cumulative inflows the day before.

Fidelity's FBTC experienced $91.39 million in net outflows on Tuesday, while Hashdex's DEFI recorded outflows of $4.75 million, according to SoSoValue data. They were the only spot Bitcoin ETFs to report outflows on the day, with all others logging zero flows.

Tuesday's outflows followed a record high of $41.18 billion in cumulative net inflows for the 12 spot Bitcoin ETFs on Monday. 

According to The Block's price page, Bitcoin had increased 1.4% in the past 24 hours to $103,775 at the time of writing, while Ethereum rose 8.9% to $2,667. 

The crypto market continued its rally, as traders assessed the progress made in the trade negotiations between the U.S. and China and April's CPI data. The consumer price index climbed 0.2% in April, bringing the annual inflation rate to 2.3%, the lowest level since February 2021, according to CNBC.

Presto Research analysts noted that the duration of the crypto rally may largely depend on developments in the U.S.-China trade dispute and the broader economic impact of tariffs.

"[The] weaker-than-expected April CPI release last night provided some relief for markets," the analysts, Peter Chung and Ming Jung, wrote in a research report.