Analysis: Bitcoin oscillates between regulatory benefits and rising returns, while ETFs continue to flow out to pressure prices Odaily Planet Daily reported that the price of Bitcoin remains around $80350, with a short-term increase of only 0.8%. After multiple attempts to break through the resistance level of $82000 failed, it continues to be under pressure. This range is considered as the combined resistance level of ETF cost line, 200 day moving average, and CME gap filling area. Although the US CLARITY Act has been passed by the Senate Banking Committee, bringing positive expectations for cryptocurrency regulation, institutional funds continue to withdraw. Data shows that the 7-day average net outflow of US spot Bitcoin ETFs has dropped to -88 million US dollars per day, the largest outflow since mid February. Analysis suggests that this round of selling pressure is more inclined towards "profit taking" rather than panic selling. At the macro level, the upward trend in US bond yields has become a core source of pressure. The yield of the US 10-year treasury bond bond rose to about 4.52%, a new 10 month high. Meanwhile, the CPI rose 3.8% year-on-year in April, the highest level in three years. The market's expectation of the Federal Reserve's interest rate cut was further postponed. Analysts point out that geopolitical conflicts drive up energy prices, exacerbate inflationary pressures, and weaken the attractiveness of risky assets. In terms of institutional perspectives, some analysts believe that the current outflow of ETF funds belongs to portfolio rebalancing rather than trend retreat. The options market shows that Bitcoin is facing significant resistance in the $82000-84000 range, with $77000 being the key support level. If the price falls below this range and leverage does not cool down, the market may enter a deleveraging phase, exacerbating the risk of a pullback.