Bitcoin trading near $60,000 is triggering significant ETF outflows this time around, revealing a stark shift in institutional behaviour compared to February's similar price level. In February, institutional players largely absorbed the dip, with selling pressure easing as prices approached that range. Now, the same price point is prompting net withdrawals from spot Bitcoin ETFs, suggesting that institutional confidence has deteriorated over the intervening months. The divergence highlights how market context shapes investor psychology beyond raw price data — factors such as macroeconomic conditions, risk appetite, and portfolio rebalancing may be driving the changed response. The pattern raises questions about whether institutional demand, which helped fuel Bitcoin's earlier rally, can be relied upon to provide support at current levels.
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