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Bitcoin hits resistance near $82,400, retreats amid bearish signals and $2B ETF outflows.

Technical Signals
21 May 2026
Blockonomi
View Source
Bearish
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Bitcoin faced strong resistance at its 200-day moving average around $82,400 and pulled back to about $77,900. CryptoQuant's Bull Score Index dropped to 20, signaling extremely bearish market conditions similar to early 2022. U.S. spot Bitcoin ETFs saw nearly $2 billion in outflows over two weeks, while demand from key markets like the U.S., South Korea, and Hong Kong remains weak. If selling pressure continues, Bitcoin could test the critical support level at $70,000 next, which has historically capped previous rallies.

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