$BTC 🔻 Bitcoin faces bearish pressure after $358M outflow in ETFs🔻
Spot Bitcoin ETFs recorded outflows of $358 million on May 29, ending a 10-day streak of inflows. BlackRock's IBIT lost $430M on May 30, reflecting an adjustment in institutional positions.
📉 Technical context: the decline is confirmed
🔸️- MACD: Histogram at -1.018, increasing bearish pressure
🔸️- RSI 7:40.54, neutral zone with a downward trend
🔸️- Fibonacci: Break of 50% ($102,685) opens the path to support at $100,766
🔸️- Volume: 29% increase to $57.4B, a sign of bearish conviction
📊 Additional factors: institutional profit-taking
Hedge funds cut their exposure to ETFs by 23% during the first quarter of 2025. The reduction in the profitability of the arbitrage strategy has led to aggressive liquidations.
Will BTC stabilize at $100,000?
Miner retention (MPI at -0.55) and accumulation in corporate treasuries ($85B) may curb deeper declines. However, ETF flows continue to determine the market direction.
👀 Are you expecting a recovery if the ETF flows reverse? Leave your opinion in the comments. 🔥👇