Bitcoin Slumps to $76,000 as Spot ETFs See First Negative Flow in Three Weeks

Bitcoin's price has dropped to $76,000 after spot ETFs recorded their first negative flow in three weeks. This loss of institutional demand puts pressure on key support levels ahead of the Fed decision and inflation data.

The outflows from Bitcoin spot ETFs totaled $463 million, marking a significant shift from previous inflows that helped propel BTC to nearly $82,000 over the past three weeks.

Wintermute Research has shifted its outlook to neutral due to these flows, citing the loss of institutional demand as an additional risk for Bitcoin's price. The research firm had previously been constructive on cryptocurrency markets.