Analyst: Institutional Capital Outflows Intensify, Bitcoin Faces Critical Support Test

According to the latest X post analysis from BIT, over the past four years, Bitcoin's price movements have shown clear regular patterns. Among them, during bullish phases, most gains are concentrated in rapid short-term surges, followed by a longer period of sideways consolidation.

During bearish corrections, Bitcoin usually first releases most of its downward pressure through quick declines, completing the main adjustment space, then gradually stabilizes and oscillates, with the overall rhythm of rise and fall highly fixed.

The analysis points out that this round of correction is mainly influenced by two key factors: first, the US April CPI data released in May exceeded expectations; second, market concerns over Strategy's (formerly MicroStrategy) sale of Bitcoin and subsequent potential selling pressure.

Under the combined effect of these factors, the flow of funds into Bitcoin spot ETFs has reversed, quickly shifting from net buying to significant net selling, with a total net outflow of about $1.5 billion so far this year, exerting clear pressure on the market.

Currently, Bitcoin remains in a pressure correction phase, with $63,445 being the key support level below which the subsequent trend is critical, and also the core position for judging the intensity of this round of adjustment.

If the price can stabilize near this level, the decline still belongs to a normal phase of temporary correction; but if this support is effectively broken, the market is likely to weaken further, entering a deeper correction and a longer period of consolidation.

In summary, as institutional funds clearly shift, Bitcoin's trend is under pressure, and the current key support at $63,445 has become an important watershed for the market's direction.

Whether this level can be effectively held not only determines the depth and duration of this correction but also influences short-term market sentiment and the pace of capital inflow. Investors should closely monitor the support's effectiveness and the #比特币 # movement of funds.