Bitcoin ETFs Record First Net Outflows in Nine Days as BTC Drops Below $77,000

US-listed spot Bitcoin exchange-traded funds experienced a sharp reversal in momentum on Monday, recording $263 million in net outflows. This marks the first instance of net outflows since mid-April, ending a nine-session streak of positive inflows that had previously seen $2.1 billion enter the market since April 13. The shift comes as Bitcoin failed to reclaim the $80,000 psychological threshold, slipping below $77,000. This price action coincided with a shift in market sentiment; the Crypto Fear & Greed Sentiment Index dropped to 'Neutral' with a score of 47 on Monday before flipping back to 'Fear' on Tuesday. Specific fund data reveals that the Fidelity Wise Origin Bitcoin Fund (FBTC) led the outflows with $150 million, followed by the Grayscale Bitcoin Trust (GBTC) at $47 million and the ARK 21Shares Bitcoin ETF (ARKB) at $43 million. In contrast, BlackRock’s iShares Bitcoin Trust (IBIT) and the Morgan Stanley Bitcoin Trust (MSBT) reported flat flows. Negative sentiment also extended to spot Ether ETFs, which posted $50.5 million in outflows. Despite the recent dip, institutional demand remained high throughout April. Michael Saylor’s Strategy acquired 56,235 BTC, and global ETFs added 34,552 BTC, vastly outpacing the estimated 11,829 BTC mined during the month. Analysts suggest the decline was driven by a 'classic liquidity event' involving the forced liquidation of leveraged long positions rather than a fundamental supply-demand imbalance. However, the rejection of the $80,000 level may indicate significant overhead supply, potentially prolonging the current drawdown for short-term holders and ETF investors.