Bitcoin bước vào vùng rủi ro cao khi các quỹ tổ chức tiếp tục rút tiền

The Huoxing Finance report states that on May 26, the blockchain analytics platform Swissblock released its latest report indicating that Bitcoin is gradually slipping into a high-risk environment, primarily driven by sustained institutional selling, especially due to net outflows from U.S. spot Bitcoin ETFs. Historical data shows that whenever this index signals structural selling pressure overwhelming the market, it typically corresponds to systematic distribution by institutional funds. Chain analysis firm Glassnode also noted that since May 7, U.S. spot Bitcoin ETFs have shown net outflows on nearly every trading day, with institutional selling signals persisting for over two weeks. "This sustained outflow continues to exert downward pressure on market supply, while no sufficient buying demand has yet emerged to offset it," further exacerbating the risk of supply-demand imbalance. On the market level, Bitcoin faced short-term pressure on Tuesday due to geopolitical tensions. Reports indicated that the U.S. launched a new military strike against Iran, despite recent progress toward a peace agreement between the two sides. Bitcoin's price dropped approximately 1% in response, briefly falling from above $77,000 to around $76,500, but it remains within its range-bound trading pattern over the past four months. Jeff Ko, Chief Analyst at CoinEx, stated that while geopolitical events may trigger short-term volatility, market focus is likely still centered on potential progress in U.S.-Iran reconciliation, with the broader crypto market "still in a wait-and-see mode." Overall, the current Bitcoin market faces dual pressures: on one hand, sustained outflows from spot ETFs are weakening critical buying support; on the other hand, geopolitical uncertainty is amplifying short-term volatility risks. If institutional risk appetite fails to improve marginally, the risk index may rise further, and caution is warranted against potential adjustments driven by a confluence of technical selling pressure and sentiment shifts.