📊 BITCOIN (BTC) — Where We Stand
Bitcoin is currently holding near $73,306, with resistance at $74,700 and support around $72,250. ETF outflows have now crossed $2 billion over two weeks. (SSSgram)
Technical Picture:
Bitcoin's failed breakout above $83,000 is looking increasingly like a bear market signal, even as the S&P 500 and Nasdaq futures approach all-time highs. (CoinDesk) Crypto is decoupling from equities — and not in a good way right now.
The ETF Crisis:
Bitcoin ETFs are on a record 9-day outflow streak — investors have pulled $2.8 billion. This is the longest withdrawal run since US spot Bitcoin ETFs launched in January 2024.
BlackRock's IBIT alone recorded $527.84 million in net outflows on May 27
its second-largest single-day withdrawal ever. All 11 US spot Bitcoin ETFs combined shed $733 million in a single session.
⚠️ My Take: Institutional money is clearly rotating into AI stocks and semiconductors. BTC must hold $75K or the next major support is closer to $70K.