Bitcoin (CRYPTO: BTC) is reeling from a correction that analysts dub an “irrational” sell-off. As the flagship cryptocurrency briefly plunged below $60,000, new data reveals that five major spot Bitcoin ETFs are bearing the brunt of the damage, plummeting into the bottom ten percent in key momentum metrics.
The Edge Ranking Collapse
According to Benzinga Edge Stock Rankings, momentum scores for five prominent Bitcoin ETFs—Bitwise Bitcoin ETF (NYSE:BITB), Coinshares Bitcoin ETF (NASDAQ:BRRR), Grayscale Bitcoin Mini Trust ETF (NYSE:BTC), VanEck Bitcoin ETF (BATS:HODL), and iShares Bitcoin Trust ETF (NASDAQ:IBIT)—have suffered a severe contraction.
The momentum score, which measures a stock’s relative strength based on price movement patterns and volatility, collapsed from 10.43 to 6.32 for all five funds.
This steep decline squarely places these ETFs in the bottom 10% of the market. Furthermore, all five funds are exhibiting negative price trends across short, medium, and long-term horizons, signaling intense and sustained downward pressure.
| ETF Name & Ticker | Previous Momentum | Current Momentum | Price Trends (Short / Medium / Long) |
| Bitwise Bitcoin ETF (BITB) | 10.43 | 6.32 | Down / Down / Down |
| Coinshares Bitcoin ETF (BRRR) | 10.43 | 6.32 | Down / Down / Down |
| Grayscale Bitcoin Mini Trust (BTC) | 10.43 | 6.32 | Down / Down / Down |
| VanEck Bitcoin ETF (HODL) | 10.43 | 6.32 | Down / Down / Down |
| iShares Bitcoin Trust ETF (IBIT) | 10.43 | 6.32 | Down / Down / Down |
BTC Price Action
At the last check, Bitcoin was trading 3.15% lower at $61,329.31 per coin, as per the last 24 hours. It was lower by 51.37% from its all-time high of $126,198.07. Meanwhile, here is how the five BTC-linked ETFs have performed.
| ETF Name & Ticker | 6-Month Performance | YTD Performance | One-Year Performance |
| Bitwise Bitcoin ETF (BITB) | -33.44% | -29.18% | -43.05% |
| Coinshares Bitcoin ETF (BRRR) | -33.51% | -29.24% | -43.07% |
| Grayscale Bitcoin Mini Trust (BTC) | -31.74% | -29.14% | -42.99% |
| VanEck Bitcoin ETF (HODL) | -33.38% | -29.07% | -43.00% |
| iShares Bitcoin Trust ETF (IBIT) | -33.51% | -29.22% | -43.11% |
Triggers Behind The Plunge
Bitcoin’s slide is symptomatic of broader macroeconomic anxieties. A major catalyst for the extreme fear gripping the market was Strategy Inc.‘s (NASDAQ:MSTR) recent $2.5 million Bitcoin sale.
Although financially small, the move was symbolically significant, raising concerns about corporate treasury models. Lucy Gazmararian described the current environment as a “classic mid-cycle” bear market.
Compounding the stress was the geopolitical uncertainty in the Middle East, accelerating ETF outflows.
A Silver Lining For Accumulation?
Despite the bleeding, some experts view this downturn as a cyclical reset. Analyst Michaël van de Poppe called the recent sell-off “relatively irrational,” suggesting that a clean break above $65,000 could trigger a strong run to $74,000.
Additionally, analyst Ali Martinez noted that the flush-out is creating “premier accumulation windows” in the $53,900 and $43,150 ranges.
While market sentiment remains “incredibly shaky,” CryptoQuant emphasizes that the current “meaningful” stress—with 40% of supply in loss—often precedes deep bear market bottoms.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
