Glassnode data reveals the 7D-SMA of US Spot ETF netflows plunged to -$88M per day, marking the heaviest outflows since mid-February as institutions sold into strength with BTC near $80,000.

February outflows coincided with price weakness, yet this wave reflects deliberate exits during the recent recovery rather than panic selling. Bitcoin ETF outflows analysis shows overhead supply near $86K continues to cap conviction compared to prior bull phases over the past year.

Price action on the 4h chart sits at $79,112.84 inside the Bollinger Bands with upper resistance at $82,018 and lower support at $78,377. The bearish EMA structure places the 50-period line at $80,295 as immediate resistance while the 200-period EMA at $77,226 offers deeper support. MACD at -249.96 confirms the death cross and RSI at 40.55 leaves room for further downside before any sustained bounce.