Bitcoin slips as US spot ETFs see $263M outflows

Bitcoin faced renewed selling pressure over the past 24 hours, dropping after slipping below $77,000 and failing to sustain a move toward $78,000. Price action turned choppy as buyers’ rebounds were repeatedly capped. The trigger for market attention was ETF flows. After nine straight sessions of net inflows, US-listed spot Bitcoin ETFs recorded $263 million in net outflows on Monday—the first major pause in institutional buying momentum since mid-April. Fidelity’s FBTC led withdrawals with about $150 million, followed by Grayscale’s GBTC (~$47 million) and ARK 21Shares’ ARKB (~$43 million). Meanwhile, BlackRock’s IBIT and Morgan Stanley’s Bitcoin fund reported roughly flat flows. Sentiment also softened. The Crypto Fear & Greed Index briefly improved to Neutral, but slipped back into Fear after Bitcoin failed to break higher. Despite the short-term pullback, the longer-term supply-demand picture remains constructive. In April, institutional demand reportedly exceeded new supply: Strategy alone reportedly bought over 56,000 BTC, and global ETFs added more than 34,000 BTC for clients versus roughly 11,800 BTC estimated to have been mined. For traders, this mix suggests near-term volatility may persist while positioning reacts to ETF flow reversals, even as accumulation narratives support dips.