Bitcoin’s institutional bid weakened sharply over the past three weeks. U.S. Spot Bitcoin ETFs recorded roughly $4.4 billion in outflows across a record 13-session streak. BlackRock’s IBIT alone accounted for more than $3.3 billion.

Those withdrawals suggest institutions chose to reduce exposure as market conditions worsened.

The timing mattered. Bitcoin [BTC] was already struggling around key support levels. As ETF outflows accelerated, BTC lost the $80,000-$82,000 zone and later fell toward $60,000.

That shift changed market dynamics. ETF demand had previously absorbed supply during pullbacks. With that support fading, Spot buyers faced a larger burden. As a result, rebounds weakened while selling pressure…