Heavy crypto ETF outflows signal institutional caution

Bitcoin ETF outflows remain elevated, with about $405 million reported on September 16 and roughly $450-$463 million over the latest week; one estimate puts seven-day outflows at 9,908 BTC or $750 million. Negative Coinbase premium and weaker trade sizes reinforce caution, although on-chain accumulation, exchange withdrawals and selective whale activity suggest supply tightening rather than a confirmed demand collapse.