Bitcoin has entered a high-risk zone, and the continuous withdrawal of institutional funds highlights concerns about selling pressure According to BlockBeats, on May 26th, the latest report from blockchain analysis platform SwissBlock showed that Bitcoin is gradually sliding into a high-risk environment, mainly due to the continuous selling of institutional funds, especially driven by the net outflow of US spot Bitcoin ETFs. Historical data shows that whenever the index indicates that selling pressure is overwhelming the market at a structural level, it often corresponds to systematic distribution of institutional funds. Glassnode, an on chain data analysis firm, has synchronously pointed out that since May 7th, the US Bitcoin spot ETF has shown a net outflow trend almost every trading day, and institutional selling signals have continued for more than two weeks. The sustained outflow of funds continues to exert pressure on the supply side of the market, and there is currently no observed buying demand sufficient to hedge it, further exacerbating the risk of supply-demand imbalance. At the market level, Bitcoin was under short-term pressure on Tuesday due to geopolitical disturbances. There are reports that the United States has launched a new round of military strikes against Iran, despite recent progress on a peace agreement between the two sides. The price of Bitcoin fell by about 1% in response, briefly dropping from above $77000 to around $76500, but overall still maintaining the range oscillation pattern of nearly four months. Jeff Ko, Chief Analyst of CoinEx, stated that although geopolitical events may cause short-term fluctuations, the market focus may still be on the potential progress of the US Iran settlement, and the overall cryptocurrency market is still in a wait-and-see state. Overall, the current Bitcoin market is facing dual pressures. On the one hand, the continuous outflow of spot ETF funds has weakened key buying support; On the other hand, geopolitical uncertainty amplifies short-term volatility risks. If the institutional risk appetite fails to improve marginally and the risk index may further rise, it is necessary to be alert to the adjustment pressure caused by technical selling pressure and emotional resonance. [Original link]