Bitcoin ETF Outflows Return as BTC Struggles Near $80,000

Bitcoin's recent gains have been met with renewed pressure as institutional investors pull out of spot exchange-traded funds (ETFs). According to reports, $165 million was withdrawn from Bitcoin ETFs on September 10 and another $120 million on Wednesday. This comes after a stronger period for institutional demand, during which Bitcoin rose about 20% over the past month.

The iShares Bitcoin Trust attracted roughly $3.5 billion in net inflows during that period, following a market washout on August 19. Analysts believe that forced selling has eased and spot buying and ETF demand have improved, but renewed ETF outflows may push Bitcoin back into a challenging price zone.

Bitcoin remains below the four-hour moving average (MA-20) at $77,838 and the MA-50 at $78,929. The Ichimoku Kijun at $77,968 acts as immediate resistance, while the RSI stands at 41.43 and CCI shows modest selling pressure.

The Iranian central bank has relaxed foreign exchange rules to allow domestic businesses to use Bitcoin and Tether for international trade, but the immediate global market effect is limited. Analysts believe that ETF flows and price structure remain stronger near-term drivers for Bitcoin's price movement.