Bitcoin Sheds $491M in ETF Outflows and Retreats Below $64K; Sellers Reload for $50K

BTCUSD showed a small retreat before US PCE data. It reached an intraday high of $61866 and is now trading around $61770.

U.S. spot Bitcoin ETFs experienced a abrupt change of fortune, losing a total of $490.8 million in net outflows over the last week—or roughly $49.1 million daily—with BlackRock's IBIT alone accounting for the majority of the departure at about $448.8 million and Fidelity's FBTC somewhat cushioning the impact with $101.7 million in inflows. The high concentration of selling in a small number of funds points to investors actively cutting Bitcoin exposure instead of making broad changes across the ETF market. Since ETFs have become a major indicator of marginal demand, the weekly print is somewhat negative for short-term mood. However, traders will be keeping an eye on whether the next few reporting periods indicate ongoing outflows or a rapid return to accumulation; they are unlikely to consider one week of redemptions as a conclusive trend reversal.

 Major support- $59000/$52796. Minor bullishness only above $63500. Any break above targets $67000/$70000/$72200/$74950/$78000/$80000.

It is good to sell on rallies around $63000 with an SL around $67000, for a TP of $50000.