Despite Record Bitcoin ETF Outflows, What's the Secret Behind its $80,000 Stability?

▲ Bitcoin (BTC) Exchange Traded Fund (ETF) ©Coinreaders

Although the Bitcoin (BTC) spot ETF recorded its worst outflow of funds since January, putting an end to a six-week streak of record inflows, the price of Bitcoin surprisingly succeeded in rebounding, showing an unusual decoupling phenomenon where institutional fund flows and market prices move independently.

According to investment media TradingNews on May 14 (local time), a total of $635.23 million flowed out of the US Bitcoin spot ETF market on May 13. This marks the largest net outflow on a single trading day since January 29. Specifically, BlackRock's IBIT alone saw $284.69 million withdrawn, accounting for 45% of the total outflow, while Ark 21Shares (ARKB) and Fidelity (FBTC) also experienced outflows of $177.10 million and $133.20 million, respectively. This temporarily halted the longest net inflow streak, which had attracted approximately $3.4 billion over six weeks, and market attention is now focused on whether this departure is merely profit-taking or a structural retreat.

Despite the shocking fund outflow, the price of Bitcoin (BTC) rose by about 2% during the day, settling at the $81,300 level. Typically, large ETF outflows are accompanied by a decline in market prices, but this time, the opposite occurred, with prices rising. This suggests that while ETF investors engaged in selling, physical buying pressure in the spot market, such as on Coinbase, overwhelmed it. In particular, a short squeeze of approximately $145 million (buying pressure occurring to liquidate or cover short positions) is analyzed as a decisive factor in defending the price by adding upward pressure.

From a technical perspective, Bitcoin is currently engaged in a fierce struggle with the 200-day moving average resistance level around $82,000-$82,500. This zone has consistently acted as a strong ceiling during bear market rebounds, and only a definitive recapture of $82,500 on a closing basis is expected to open the way towards the $90,000 mark. On the downside, $76,900, the average cost of investors who accumulated over the past 30 days, is acting as a strong on-chain support level. Experts diagnose that if $76,900 is maintained, this current correction can be seen as a healthy breather within an uptrend, as this zone aligns with the 50-day moving average.

The internal fund circulation pattern of the market is also noteworthy. While funds flowed out of Bitcoin and Ethereum spot ETFs, the Solana spot ETF saw continuous inflows every single day in May, attracting over $90 million in new investments. This indicates that institutional investors are not leaving the crypto market itself but are undergoing a portfolio rotation process, shifting from Bitcoin to altcoins. Furthermore, positive regulatory developments, such as the passage of the CLARITY Act by the Senate committee, are also serving as a pillar supporting investor sentiment.

In conclusion, Bitcoin demonstrated remarkable resilience by directly overcoming the short-term negative factor of ETF outflows with spot demand and a short squeeze. According to a Nickel Digital survey, 86% of institutional investors remain optimistic about increased crypto inflows by 2026, suggesting that this outflow event is likely a temporary risk management measure due to macro uncertainties. Investors should monitor the $76,900 support level in real-time and consider the moment it surpasses the $82,500 resistance level as a signal for a full-scale increase in their holdings.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*