BTC stalls near $78K amid ETF outflows, long liquidations

According to The Block, BTC continues to show weakness below the $78,000 level, with market pressure mounting from spot ETF outflows and large-scale long position liquidations. This week, spot BTC ETFs have recorded outflows for four consecutive trading days, while the futures market has seen approximately $584 million in long positions liquidated. Glassnode noted that the market currently lacks strong spot buying pressure, suggesting that a move back above $80,000 might require a significant increase in ETF purchases or a short squeeze. Traders are now watching the $76,000 area as a key support level.