The US Bitcoin spot ETF market has experienced a significant net outflow of $146 million, indicating a shift in investor sentiment amid the recent decline in Bitcoin's price.

Outflows from Major Bitcoin ETFs

According to data from Farside Investors, 9 out of the 10 US Bitcoin ETFs, including BlackRock's IBIT and Grayscale's GBTC, experienced zero or negative single-day flow. The Fidelity Wise Origin Bitcoin Fund (FBTC) saw the highest outflows, with a net outflow of $92 million, followed by the ARK 21Shares Bitcoin ETF (ARKB) with $50 million in net outflows.

This development highlights the varying investor sentiments towards different Bitcoin ETFs during this volatile market period, particularly as Bitcoin's price continues to decline.

Bitcoin Price Trends and Market Implications

Bitcoin's price currently stands at $65,567.92, with a 24-hour trading volume of $36.6 billion. This marks a -0.67% price decline in the last 24 hours and a -3.50% decline over the past 7 days.

Bitcoin remains below the 50-day EMA while holding above the 200-day EMA, confirming a bearish near-term but bullish longer-term price trend. A breakout above the 50-day EMA could give the bulls a chance to reach the $69,000 resistance level, and a breakout from this level could signal a move toward the $73,808 all-time high.

Investors should closely monitor US retail sales figures, FOMC Member chatter, and US BTC-spot ETF market flow trends, as these factors could influence the market dynamics. Bitcoin bulls are navigating a risky crossroads that may lead to a rebound to $70,000 or an extended pullback to $60,000, with the support around $65,000 being a critical level to watch.