Bitcoin is trading in the 60 thousand dollar range, approaching the levels seen in early February. However, this time the reaction of institutional investors differed markedly from the previous decline. The data revealed that institutions increased sales as the price pulled back.
The harshest week in the last year for ETF outflows
According to SoSoValue data, 11 spot Bitcoin ETFs traded in the US saw a total net outflow of $1.72 billion last week. This figure stood out as the largest weekly money outflow recorded in more than a year. At the time the news was written, Bitcoin was changing hands for approximately 62 thousand dollars.
Mini glossary: Spot Bitcoin ETF is a fund that directly holds Bitcoin and is traded on the exchange like a stock. SoSoValue is known as a data platform that tracks ETF inflows and outflows and on-chain data in the cryptocurrency market.
The picture was more limited in the first week of February, when Bitcoin dropped sharply and fell to around 60 thousand dollars again. At that time, weekly net outflow in spot ETFs remained at $318 million. This comparison indicated that corporate behavior changed direction in the same price region.
This time, ETF outflows did not slow down as the price fell, on the contrary, they accelerated every week and there was no institutional buying support around 60 thousand dollars.
Outflows have accelerated for four consecutive weeks
According to the data, outflows have grown uninterruptedly for the last four weeks. The net outflow was $1 billion in the week ending May 15, rising to $1.26 billion, then $1.42 billion and finally $1.72 billion in the following weeks. This series showed that selling pressure increased as the price weakened.
| Period | net output | Observed trend |
|---|---|---|
| first week of february | $318 million | Outflows slowed down as the price fell |
| Last week | $1.72 billion | As the price fell, outflows accelerated |
There was a different course in February. While there was an outflow of $318 million in the week when Bitcoin dropped to $60,000, a dissolution of $1.33 billion and $1.49 billion was recorded in the previous two weeks, respectively. In other words, as the price dropped, the selling pressure weakened and buyers stepped into the market.
Pressure on the $60,000 support has increased
In the current view, the opposite is seen. The acceleration of outflows from ETFs while Bitcoin is declining suggests that the appetite for this price zone on the institutional side has decreased. Data indicate that maintaining the $60,000 level may be more difficult than in the previous period.
The slowdown in outflows during the price drop in February showed that buyers had stepped in. Latest data reveal that corporate demand has weakened at the same levels.
Market data showed that the movement around $60,000 is being closely watched not only in terms of price but also in terms of institutional positioning. Spot ETF flows, in particular, remain one of the key indicators measuring the strength of support levels in Bitcoin in the short term.
