BTC to PKR saw downward pressure as spot Bitcoin ETFs recorded heavy outflows at the start of 2026, signaling a clear shift in investor sentiment. In the first full trading week of the year, US-listed spot Bitcoin ETFs lost a combined $681 million, reversing early inflows and reinforcing a broader risk-off mood across global markets. After opening the year with strong inflows, Bitcoin ETFs quickly turned negative, posting four consecutive days of net outflows. The largest redemptions came mid-week as investors pulled capital amid fading expectations of early US interest rate cuts and rising geopolitical uncertainty. Market analysts say the ETF pullback reflects caution rather than panic. Institutional investors appear to be reducing exposure temporarily while awaiting clearer macroeconomic signals from upcoming US inflation data and Federal Reserve guidance. Spot Ether ETFs mirrored Bitcoin’s trend, recording weekly net outflows of nearly $69 million. Despite the withdrawals, total assets under management for Ethereum ETFs remain elevated, suggesting long term confidence has not disappeared, only paused. Despite short term pressure on BTC to PKR, institutional adoption continues. Morgan Stanley has filed for spot Bitcoin and Solana ETFs, while Bank of America has begun allowing advisers to recommend select Bitcoin ETFs to clients. These moves indicate that large financial institutions remain committed to crypto exposure even during periods of volatility. Analysts believe ETF flows will remain sensitive to macro news in the coming weeks. Until clearer signals on monetary easing emerge, Bitcoin prices and by extension BTC to PKR may continue to trade cautiously, with sentiment driven more by global economics than crypto specific developments.