Bitcoin Market Sentiment Leans Bearish Amid ETF Outflows

According to Odaily, Adam, a macro researcher at Greeks.live, shared insights in a Chinese community briefing indicating a bearish sentiment in the market. Many traders are focused on the possibility of Bitcoin declining to the $78,000 to $81,000 range. While some members anticipate a rebound, the majority remain cautious about short-term movements, especially following significant ETF outflows. Observers have noted a lack of effective support in the current market, with indicators showing a net outflow of $757 million from U.S. spot Bitcoin ETFs. The cryptocurrency market is exhibiting unusual behavior, as the Bitcoin Dominance Index (BTCD) has not increased during the decline, and altcoins have shown relative resilience, suggesting a shift in market structure.