Image Credit: Shutterstock
Bitcoin hovered near $81,000 after U.S. spot Bitcoin ETFs recorded about $268 million in net outflows, interrupting a recent run of inflows as BTC struggled to extend its rebound.
BTC traded around $80,957 on Monday after reaching an intraday high near $82,394, according to market data. The pause came after Bitcoin briefly moved above $82,000 but failed to hold the breakout.
May 7 ETF Outflows Reach $268.46M
U.S. spot Bitcoin ETFs posted roughly $268.46 million in net outflows on May 7, reversing the prior inflow session.
Fidelity’s FBTC led the withdrawals with about $128.99 million in outflows. BlackRock’s IBIT followed with $98.02 million, while Grayscale’s GBTC lost $26.78 million and Ark’s ARKB saw $12.62 million leave the fund.
The outflows followed stronger sessions earlier in the month. Bitbo data showed Bitcoin ETFs brought in more than $1.57 billion across May 1, May 4 and May 5 before flows weakened and turned negative on May 7.
BTC Fails to Hold Breakout Above $82,000
The ETF reversal came as Bitcoin struggled to stay above recent resistance. BTC traded near $80,371 after being rejected around $82,500, while ETF outflows added to cautious market sentiment.
The pause does not erase Bitcoin’s broader recovery. BTC remains well above its April lows and recently reclaimed the $80,000 level after spending weeks below it. Still, the latest move shows that the rally remains sensitive to ETF demand, especially after inflows helped support the rebound earlier in May.
$80,000 Support Depends on ETF Inflow Recovery
Bitcoin also faced profit-taking after its recent move higher. The token briefly slipped below $80,000 on Friday as geopolitical uncertainty around Iran and the U.S. added pressure to risk assets. Recent inflows show ETF demand had been strong earlier in the month, but the May 7 outflow slowed momentum and shifted attention back to the $80,000 area.
For now, Bitcoin’s hold near $80,000 keeps the pullback limited. The next signal is whether spot ETF inflows return after the May 7 outflow session. If inflows recover, BTC could make another attempt at the $82,000 to $83,000 range. If redemptions continue, the current stall could turn into a deeper consolidation after the latest rally.
Categories:
Fhumulani Lukoto
Cryptocurrency Journalist
Fhumulani Lukoto holds a Bachelors Degree in Journalism enabling her to become the writer she is today. Her passion for cryptocurrency and bitcoin started in 2021 when she began producing content in the space. A naturally inquisitive person, she dove head first into all things crypto to gain the huge wealth of knowledge she has today. Based out of Gauteng, South Africa, Fhumulani is a core member of the content team at Coin Insider.