Bitcoin's price fell below $64,000 on Thursday after hitting a monthly high of $67,000, as a combination of ETF outflows and renewed trade tensions weighed on sentiment. Spot Bitcoin ETFs recorded net outflows of over $200 million, ending a seven-day inflow run that had brought in roughly $1 billion. BlackRock moved about $203 million worth of Bitcoin (3,126 BTC) from its IBIT ETF wallet to Coinbase Prime, a move it typically makes when liquidating ETF positions. Meanwhile, President Donald Trump threatened new tariffs on the European Union, citing penalties on US tech companies like Apple, Meta, and Google, and announced a 301 Investigation. Previous tariff threats by Trump in April 2026 had already triggered a significant drop in Bitcoin.
ETF Outflows Break Seven-Day Streak
Thursday's net outflow of more than $200 million snapped a week-long stretch of inflows that had pumped roughly $1 billion into spot Bitcoin ETFs. The reversal came as BlackRock shifted 3,126 BTC — worth about $203 million at the time — from its IBIT ETF wallet to Coinbase Prime. The exchange is the same one BlackRock uses when it needs to liquidate ETF positions, a pattern traders have watched closely in recent months. The move doesn't necessarily mean an immediate sale, but it often precedes one. The outflow broke a streak that had been a bright spot for the market, and the timing isn't great: Bitcoin had just touched $67,000, its highest point this month.
Tariff Threats Return
President Trump on Thursday announced a 301 Investigation into the European Union, accusing the bloc of penalizing US tech giants. He threatened new tariffs in response, though the exact rates and timeline remain unclear. The announcement came just hours after Bitcoin's ETF outflows hit the tape, compounding the selling pressure. Markets remember April 2026, when Trump's earlier tariff threats sent Bitcoin sliding sharply. The pattern is familiar: trade uncertainty tends to push risk assets lower, and crypto is no exception. The 301 Investigation itself is a formal process under US trade law, but the president can impose tariffs before it concludes.
Next Steps on EU Trade
The 301 Investigation will proceed through the Office of the US Trade Representative, a process that typically takes months. But Trump has shown he's willing to act faster. Traders are now watching for any immediate tariff announcements from the White House, which could come as soon as next week. The European Union has yet to respond formally, but retaliation is likely if tariffs are imposed. For Bitcoin, the immediate question is whether the ETF outflow streak was a one-day blip or the start of a broader pullback. The answer may depend on how the trade fight escalates — or doesn't.
