Spot Bitcoin and Ethereum ETFs experienced another round of outflows on December 24 as traders moved into the Christmas break with reduced liquidity and a weaker appetite for risk.

**SoSoValue data** showed Bitcoin spot ETFs posted **$175 million in net outflows** on Wednesday, while Ethereum spot ETFs showed **$57 million in outflows**.

The biggest single-day exit came from **BlackRock’s IBIT**, which saw **$91.37 million leave the fund**. Grayscale’s GBTC followed with a **$24.62 million outflow**.

Ethereum spot ETFs also lost ground. SoSoValue reported **$52.7 million in net outflows** on the day.

**Grayscale’s ETHE** led the selling pressure with a **$33.78 million outflow**, bringing its cumulative historical net outflows to **$5.083 billion**.

The only notable offset came from **Grayscale’s Ethereum Mini Trust ETF (ETH)**, which recorded a **$3.33 million inflow** and has now reached **$1.506 billion in cumulative inflows**.

The pattern fits what tends to happen around major holidays. Trading volumes drop sharply, desks run lighter, and positioning becomes more defensive.

In that environment, even modest orders can have an outsized effect on ETF flows, especially when market makers widen spreads and investors prefer to sit on cash rather than carry exposure through illiquid sessions.

Outflows also do not automatically mean investors are turning bearish. Some flows reflect routine rebalancing, tax management, or rolling exposure between products.

But the direction matters because these ETFs have become a visible proxy for institutional demand. When flows turn negative for several sessions, it reinforces the idea that crypto still behaves like a risk asset that struggles when liquidity tightens.

The biggest single-day exit came from BlackRock’s IBIT, which saw $91.37 million leave the fund. Grayscale’s GBTC followed with a $24.62 million outflow.

Bitcoin and Ethereum ETFs See Massive Outflows Before Christmas: Is This a Bearish Signal?

## Bitcoin Briefly Trades at $24,000 on Binance’s USD1 Pair in Flash Move

Bitcoin displayed a shocking **$24,111** on Binance in a sharp wick on the **BTC/USD1** trading pair late Wednesday before snapping back above **$87,000** within seconds, according to exchange data.

![Binance chart showing the flash crash](https://www.coindesk.com/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2F79d1ce0e4497ebbd6c8ac6a24a261c194a818c85-1080x1706.jpg%3Fauto%3Dformat&w=3840&q=75)

*(Binance)*

The move did not show up on any other major BTC pairs and appeared isolated to **USD1**, a stablecoin launched by Trump family-backed World Liberty Financial. The pair later normalized, with bitcoin trading back near prevailing market prices.

These sudden **“wicks”** are typically caused by **thin liquidity** - or a possible display issue - rather than a broader crash. New or less-traded stablecoin pairs often have fewer market makers quoting tight prices, meaning the **order book can be shallow**.

A single large market sell, a **liquidation**, or an automated trade routed through the pair can sweep bids quickly, forcing the price to print far below the true market level until buy orders reappear.

Such **dislocations** can also be triggered by temporary pricing issues tied to spread widening, faulty quotes from a market maker, or **trading bots** reacting to abnormal prints.

During **quieter hours**, the effect can be amplified because fewer participants are active to absorb the order flow and restore price parity.

While the wick may look dramatic on a chart, traders generally treat these prints as a **microstructure event** rather than a signal of bitcoin’s underlying direction.

Still, it highlights the **risks** of using thin pairs for execution, especially when stablecoins or trading routes are still building liquidity.

Such sudden price changes are often due to thin liquidity and can be exacerbated by fewer active traders during quieter hours.

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