Despite the end of the US government shutdown, demand for Bitcoin and crypto-linked investment funds took a significant downturn on Thursday. Data from Farside Investors revealed the second-worst day ever for Bitcoin exchange-traded fund (ETF) outflows, totaling $866 million after reaching a record high in February 2025. This follows consecutive days of outflows and signifies a growing concern among crypto investors regarding the market’s direction. While this decline is attributed to overall market uncertainty following the end of the government shutdown, some analysts remain cautiously optimistic. Experts like Ki Young Ju, founder and CEO of CryptoQuant, highlight the need for Bitcoin’s price to stay above $94,000 or its average cost basis for investors who bought in the past six to twelve months before making a definitive judgment about a possible bearish cycle. Hunter Horsley, CEO of asset management firm Bitwise, argues that the current market structure has changed with the introduction of Bitcoin ETFs and the new US administration, suggesting a potential end to the bear market. However, this shift hasn’t deterred concerns about the future of the crypto market. For example, the newly launched XRP (XRP) ETF from Canary Capital topped all other crypto and traditional ETF launches in 2025, indicating growing demand for regulated altcoin funds. Despite this, outflows for Ethereum ETFs continued to be a point of concern with over $259 million in outflows reported on Thursday, while Solana’s ETFs saw positive inflows.