Bitcoin Hits All-Time High, But ETF Outflows Signal Institutional Caution

VISI.NEWS | BANDUNG - Bitcoin’s recent surge to an all-time high of $122,054 has triggered a wave of profit-taking, particularly among institutional investors. After six consecutive weeks of net inflows into U.S.-listed spot Bitcoin ETFs, the trend reversed this week, signaling a possible shift in market sentiment. According to data from SosoValue, spot Bitcoin ETFs saw net outflows totaling $199 million, ending a month-long streak of consistent institutional buying. This sudden reversal suggests a decline in risk appetite among major investors, who had been aggressively accumulating exposure during the recent rally. This week’s ETF outflows are seen as a leading indicator of institutional sentiment, and the sharp decline in inflows, particularly following sustained accumulation may indicate that even long-term holders are beginning to take profits. While not necessarily a bearish long-term signal, the move underscores growing short-term caution in the market. Further supporting the case for a market cooldown, data from Glassnode reveals weakening on-chain activity. The number of unique active Bitcoin addresses has steadily declined over the past week, hitting a weekly low of 721,086 on Monday. This slowdown in both institutional inflows and retail network activity suggests a broader pause in the market and raises the potential for a near-term correction. Technically, BTC/USD appears to be consolidating after its record high, facing resistance at $120,811 and finding support near $116,952. If selling pressure continues and demand fails to pick up, Bitcoin risks dropping further to $114,354. However, a renewed wave of demand could help the asset reclaim its all-time high. @ffr