[Bitfinex Report: ETF Outflows and Whale Sell-offs Pressure Bitcoin, $53,000 May Be Key Support] According to the Bitfinex Alpha report, the Bitcoin market remains in a high-timeframe downtrend due to weak inflows into Bitcoin spot ETFs and continued sell-offs by large holders. The report noted that although Bitcoin has rebounded 20% from its February 5 low, a bottom has yet to be confirmed. So far this year, U.S. Bitcoin spot ETFs have seen a cumulative net outflow of $2.6 billion, with institutional investors' 'ETF fatigue' exacerbating selling pressure. On-chain data shows that approximately 64% of the funds flowing into exchanges currently come from large holders (whales), the highest proportion since October 2015. Additionally, influenced by U.S. tariff policies and macroeconomic uncertainties, options traders are once again paying premiums for downside risk, reflecting cautious market sentiment. Currently, the $53,000 realised price is considered a key mid-term support level for the market.