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Bitcoin came under pressure over the past 24 hours after slipping below the $77,000 level. Price action suggested BTC traded near the upper $77,000 range before briefly pushing above $78,000, only to face sharp selling that drove it toward the mid-$76,000 area.
The softer price action coincided with a shift in investor flows into US-listed spot Bitcoin ETFs. After nine consecutive sessions of net inflows, these ETFs recorded $263 million in net outflows on Monday, marking their first meaningful pause in institutional buying momentum since mid-April.
The reversal followed a positive stretch in which approximately $2.1 billion entered spot Bitcoin funds from April 13 onward. That inflow supported a roughly 10% rise in BTC over the same period.
Withdrawals were led by Fidelity’s FBTC, with around $150 million leaving the product. Grayscale’s GBTC followed with approximately $47 million in outflows, while ARK 21Shares’ ARKB posted roughly $43 million in redemptions. Meanwhile, BlackRock’s IBIT and Morgan Stanley’s Bitcoin fund reported flat flows.
Sentiment indicators also reflected uncertainty. The Crypto Fear & Greed Index recently improved into Neutral territory for the first time in three months. However, after BTC failed to break higher and retreated, the index slipped back into Fear.
Despite the short-term pullback, institutional demand in April remained strong. Strategy alone reportedly bought more than 56,000 BTC during the month, while global ETFs added more than 34,000 BTC for clients.
By comparison, only around 11,800 BTC were estimated to have been mined during the same timeframe. That imbalance suggests long-term accumulation remains a major theme.
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