Bitcoin’s resurgence to the $60,000 mark is accompanied by significant ETF outflows, indicating a stark contrast to February when institutional selling moderated during the price dip. What you need to know: — Bitcoin has climbed back to approximately $60,000, yet in contrast to February, investors in spot bitcoin ETFs are now actively selling as prices decline. — U.S.-listed spot bitcoin ETFs experienced $1.72 billion in net outflows last week, representing the largest weekly redemption in over a year, significantly higher than the $318 million outflow recorded when prices last approached $60,000 in early February. — Outflows from these ETFs have intensified for four consecutive weeks as prices decreased, reflecting a more pessimistic institutional sentiment compared to February. Today, the trend shows aggressive selling into the dip, as indicated by ETF flows, in contrast to February when selling diminished as prices neared $60,000. This represents a fundamental change in institutional perspectives on bitcoin at this price point. The 11 U.S.-listed spot bitcoin ETFs reported net outflows of $1.72 billion last week, the highest single-week redemption in over a year, according to data from SoSoValue. In the first week of February, when BTC plummeted to around $60,000, the ETFs saw only $318 million in outflows. The bearish divergence does not stop there. Outflows have surged for four weeks in a row, increasing from $1 billion in the week ending May 15 to $1.26 billion and $1.42 billion in the following weeks, culminating in $1.72 billion recently. In February, the situation was different. During the week BTC hit $60,000, ETFs recorded $318 million in outflows, but the two preceding weeks had seen outflows of $1.33 billion and $1.49 billion. Essentially, as prices fell, outflows slowed and buyers appeared. This time, the trend has reversed: as prices dropped, outflows accelerated. Week after week, redemptions have sped up without institutional support below. The trend indicates a bearish outlook and suggests that bulls may struggle to maintain the $60,000 support level. At the time of writing, bitcoin was trading near $62,000.