BTC bounced back, but U.S. market funds are still selling Over the past 3 days, Coinbase's BTC main market sell-offs totaled $93.01M, while buys were only $25.4M, resulting in a net sell-off of about $67.61M. During the same period, U.S. Bitcoin spot ETFs saw a total net outflow of $708M. Although $21.1M flowed back in yesterday, compared to the $729M outflow over the previous two days, it’s basically just stopping the bleeding a little. As for the Coinbase premium, it’s even more straightforward. It’s been underwater most of the past few months. After briefly turning positive from late August to early September, it quickly flipped negative again. Currently, the premium rate is around -0.11%. All three data points point to the same issue: U.S. spot market funds have yet to regain control.