Bitcoin ETFs See Largest Single-Day Outflows in Four Months
- Record Outflows: U.S. spot Bitcoin ETFs experienced net outflows of $635.23 million on May 13, marking the largest single-day withdrawal since January, indicating a sharp decline in institutional demand for Bitcoin exposure.
- Bitcoin Price Decline: Following inflation data, Bitcoin fell below the psychological support level of $80,000, sliding from a weekly high of $82,300 to an intraday low of around $79,600, as market sentiment weakened due to fears of prolonged high interest rates by the Federal Reserve.
- Major ETF Performance: Among the outflows, BlackRock's IBIT saw $284.69 million withdrawn, Fidelity's FBTC experienced $133.22 million in outflows, and Ark 21Shares' ARKB recorded $177.10 million, reflecting a significant decrease in institutional interest in Bitcoin.
- Market Sentiment Shift: After attracting nearly $2 billion in inflows in April, the current outflow trend suggests that institutional demand may be cooling again, as investors reduce exposure to high-volatility assets amid increasing uncertainty.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 69604.384 | 71946.992 | 74542.554 | 76885.162 | 79480.724 | 81823.332 | 84418.894 |
| Fibonacci | 71946.992 | 73833.373 | 74998.781 | 76885.162 | 78771.543 | 79936.951 | 81823.332 |
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