Key Takeaways:Bitcoin price drops 3.1%, falling below $112K amid growing market riskSpot BTC ETFs see $326M outflows, with Grayscale and Fidelity leading withdrawalsMomentum and MACD indicators show weakening trend, confirming short-term bearish pressure Bitcoin Price Update:Bitcoin fell to $111,408 in the past 24 hours, down 3.24%, only marginally overperforming the broader crypto market's 3.39% decline. The move came amid a combination of ETF outflows, technical breakdowns, and rising macroeconomic concerns.According to on-chain metrics, the loss of the $116K support triggered widespread automated liquidations, further accelerating downside pressure. Institutional sentiment has notably shifted, as seen in sharp withdrawals from major BTC ETFs. Institutional Outflows & ETF Pressure:Spot Bitcoin ETFs in the U.S. recorded a net outflow of $326.52 million on Monday. Key funds saw substantial redemptions:Grayscale’s GBTC: $145.39M outflowFidelity’s FBTC: $93.28MBitwise’s BITB: $115.64MArk 21Shares (ARKB): $21.12MDespite the sell-off, BlackRock’s IBIT stood out with $60.36M in inflows, highlighting selective institutional support. Still, overall flows suggest low confidence among institutional investors, especially after the record $20 billion liquidations triggered over the weekend.Source: SoSoValueThese ETF moves followed Trump’s announcement of additional 100% tariffs on Chinese imports, increasing global risk aversion and cooling demand for digital assets. Technical Indicators Signal Weakness:On the technical front, key oscillators and moving averages show bearish pressure building:Momentum (10): −10,624 — suggests strong downside accelerationMACD Level (12, 26): −8 — a bearish crossover, confirming negative momentumRelative Strength Index (RSI): 42 — below neutral, leaning toward downtrend continuationStochastic %K: 26, Williams %R: −87 — both indicate a weakening bullish caseNotably, all short- to mid-term moving averages (EMA/SMA from 10 to 100 periods) are below current price levels, adding to the bearish sentiment.Source: TradingViewOnly the long-term EMAs and SMAs (200-period) show signs of stability:Exponential Moving Average (200): 108,052Simple Moving Average (200): 107,132These long-term levels may act as a potential support zone if selling continues.Source: TradingViewMacroeconomic Tensions Amplify Selling Pressure:The broader market saw over $755 million in combined BTC and ETH ETF outflows, with Ethereum ETFs alone shedding $428 million. These flows coincide with renewed U.S.–China trade tensions, where President Trump’s tariff threats on all Chinese imports spooked markets.As investor appetite for risk assets waned, capital rotated into cash and safe-haven holdings, dragging crypto markets down. BTC's correlation to equities, recently holding around 0.6, suggests it's still highly exposed to macroeconomic developments. What’s Next for BTC: Key Levels and Market OutlookBitcoin must defend the $110K psychological support level, with any further weakness possibly targeting the next Fibonacci retracement level near $107K.Resistance zone: $115,000 – $117,261Support zone: $110,000 – $108,000Analysts suggest that a shift in ETF inflow trends or clarity on U.S.-China trade policy could serve as a turning point. Until then, the market faces persistent selling pressure, compounded by a cautious institutional outlook.
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