Bitcoin falls over 6% as spot ETF outflows and technical pressures weigh on market

Traders Union
All News
Crypto
Bitcoin slides 6.08% today on ETF outflows

Highlights

U.S. spot Bitcoin ETFs saw over $1.15 billion in outflows, exerting ongoing pressure on crypto markets.
Switzerland authorized its first Bitcoin ETF for retail investors, increasing regulated access to the asset in Europe.
BTC/USD trades below key short-term moving averages, with technicals indicating downside risk and an expected range of $72,566 to $78,515 over five days.

Ongoing U.S. ETF withdrawals sustain negative sentiment despite Swiss expansion

Spot Bitcoin ETFs in the U.S. recorded over $1.15 billion in outflows across several trading sessions, which slowed but continued to influence sentiment. At the same time, Switzerland approved its first Bitcoin ETF open to retail investors, expanding regulated access in Europe. These developments were closely tracked following major U.S. political events, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, sees Bitcoin in a precarious position after a steep 6.08% drop. He notes sustained outflows from U.S. spot Bitcoin ETFs and a failure to hold above key 20-day and 50-day moving averages. Kharitonov highlights that, although Switzerland’s retail ETF approval brought some positive regulatory news, prevailing bearish momentum remains dominant. He warns that persistent selling pressure and intraday volatility undermine buyer confidence, despite occasional intraday support. “Until Bitcoin can reclaim the $78,515 resistance, I view any upside as short-lived and remain defensive on near-term prospects,” Kharitonov says.

Viktoras Karapetjanc, expert at Traders Union, points out that the core bullish structure for Bitcoin stays intact above the 200-day average. He sees the introduction of Switzerland’s first retail Bitcoin ETF as an important step in expanding regulated market access in Europe. Karapetjanc believes that despite recent ETF outflows in the U.S., broader adoption and positive regulation lay the groundwork for further upside. He emphasizes that a move above $78,515 could kick-start renewed growth and attract new buyers. “With institutional access widening in Europe, I expect the market to offer multiple bullish setups in the coming sessions,” says Karapetjanc.

Sholanke Dele, market strategist, is cautious on Bitcoin’s outlook as sustained U.S. ETF outflows reflect weakening investor sentiment. He notes price action is unable to find support above short- and medium-term moving averages, and volatility remains elevated. Dele warns that overbought signals in the Stochastic RSI raise the risk of further declines. “Current news flow and market structure suggest sellers are firmly in control for now,” Dele states.

Short-term pressure prevails as sell signals and resistance challenge bulls

BTC/USD is trading below its 20-day ($80,303) and 50-day ($82,057) moving averages, reflecting ongoing short- and medium-term pressure from sellers, but remains above the 200-day ($73,229) average, indicating the longer-term bullish structure is intact. Near-term resistance is at $78,515, while support is at $75,736, and the Ichimoku Kijun at $80,317 marks further resistance above. Momentum signals show persistent downside pressure, with both the MACD and ADX indicating a sell bias. The RSI and CCI are neutral, and the Stochastic RSI is at 100, flagging an overbought condition that could trigger a downside correction. Bull/Bear Power (BBP) remains strongly positive, suggesting buyers are still active intraday. The Awesome Oscillator is neutral. BTC/USD has dropped $4,902.33 for the day, a 6.08% decline, with the price near the session low and intraday volatility at 1.76%. Price weakness intensified after the session opened and is confirmed by most momentum indicators.

Previously it was reported that Bitcoin experienced sharp losses alongside significant liquidations amid broader declines in technology stocks. The current analysis adds a new dimension with the introduction of Europe’s first retail Bitcoin ETF and ongoing U.S. ETF outflows, highlighting $78,515 as a pivotal level to monitor for signs of a sustained breakout or renewed selling pressure.

Source of Data: BTC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.