‘Rally without conviction’: Bitcoin ETFs see $630M in outflows as corporate treasury demand drops and resistance builds

On May 13, Bitcoin Exchange-Traded Funds (ETFs) collectively recorded significant outflows amounting to $630 million. This capital withdrawal is linked to a notable decline in purchasing activity from corporate treasuries, signaling a potential decrease in institutional demand for Bitcoin through these investment vehicles. The article also points to a substantial $2 billion gamma cluster, which is identified as a factor that could trigger heightened price volatility for Bitcoin as it nears the $82,000 price point, suggesting a period of market uncertainty.