Bitcoin Holds $78,200 Amid ETF Outflows

Bitcoin traded above $78,200 on Monday. This level follows a decline of over 4% during the previous week. The asset is attempting to recover from recent downward pressure.

Institutional demand weakened significantly in the last seven days. Spot Bitcoin ETFs recorded net outflows exceeding $462 million. This movement ended a three-week streak of positive inflows.

ETF Outflows Disrupt Institutional Demand

The withdrawal of capital from exchange-traded funds signals a shift in market sentiment. Investors reduced their exposure to digital assets during the recent correction. This outflow pattern directly impacted the price trajectory of the leading cryptocurrency.

Macroeconomic factors also contributed to the selling pressure. Bets on Federal Reserve rate hikes have increased. These expectations strengthen the US Dollar and limit the upside potential for risk assets like Bitcoin.

Pi Network Extends Two-Week Recovery

Pi Network traded above $0.097 on Monday. This marks the second consecutive week of gains for the token. Ecosystem development and improved developer tools are supporting this price action.

Technical indicators suggest a tentative recovery phase. However, overhead exponential moving averages remain a significant resistance level. These technical barriers continue to cap further gains in the short term.

Broader Market Holds Key Support Levels

Ethereum and Ripple followed Bitcoin’s neutral to bullish trajectory. Ethereum held its key support level at $2,521. Ripple maintained its support at $1.38. These assets moved in tandem with the broader market recovery.

Market attention turned to the US Senate vote on the CLARITY Act. This legislative development could influence regulatory clarity for the sector. Participants monitor these political signals for potential impacts on asset prices. According to GN markets/crypto (en-US), these factors remain central to current price dynamics.