Bitcoin ETF Flows Under Scrutiny as BlackRock Reports $122.7M Sale

Bitcoin's recent price drop has raised concerns about institutional participation in the cryptocurrency market. According to Bitget, BlackRock reported a $122.7 million Bitcoin sale during the latest trading session, which has put ETF flows under close observation.

The 4-hour Bitcoin chart shows a corrective market structure, with price currently trading near $62,987 and maintaining bearish technical control. The descending parallel channel continues to define market direction, with lower highs and lower lows indicating selling pressure.

Institutional demand and technical levels are guiding the market direction, with investors closely watching ETF flows alongside critical technical support. A decisive breakout above $64,500-$65,000 would weaken the present bearish structure, while failure to defend $62,900 could invite another wave of selling pressure.