**[Analysis: $1.26 Billion Bitcoin ETF Outflow May Serve as a "Contrarian Buy Signal"]** BlockBeats News, May 23, the crypto analytics platform Santiment stated that U.S. spot Bitcoin ETFs have seen a cumulative net outflow of approximately $1.26 billion over the past six trading days, which may instead constitute a "contrarian buy signal" for Bitcoin. Santiment believes that ETF fund flows are more reflective of retail investor sentiment rather than changes in "smart money" positions. The report noted that some retail investors have lost patience as Bitcoin failed to hold above $80,000 in May. Currently, BTC is trading at approximately $75,400, down from the May 16 high of around $79,000. Santiment pointed out that historically, sustained ETF outflows often correspond to phases "suitable for patient accumulation" rather than market panic. However, this perspective diverges from the mainstream market view. Most analysts believe that continuous outflows from spot Bitcoin ETFs typically indicate weakening market sentiment and potential further price pressure. On the other hand, Bloomberg ETF analyst James Seyffart noted that since the launch of ETFs, cumulative net inflows have approached $60 billion, effectively recovering the impact of the approximately $9 billion outflow from October last year to February this year. He also predicts that with the introduction of more ETF products in the future, the scale of fund inflows is likely to reach new historical highs. [Original Link]