Bitcoin Holds Above $77K as ETF Outflows Extend and Whales Accumulate

Bitcoin is consolidating above $77,000 after sliding from above $80,000 to a monthly low near $76,020. The drop follows five consecutive losing sessions and accelerating institutional selling, with U.S. spot Bitcoin ETFs recording $1.3 billion in net outflows since May 14, including a $101 million withdrawal on May 21. Despite the broader market fear reflected in the Fear & Greed Index at 27, Bitfinex margin longs have surged to a 30-month high of 80,636 BTC, highlighting a stark divergence between leveraged whale accumulation and persistent selling pressure that has triggered over 104,000 liquidations totaling $258 million.