U.S. Bitcoin ETFs see $277M outflows, ending a strong buying streak amid price pullback and weak retail interest.

On May 7, U.S. Bitcoin spot ETFs experienced $277 million in net withdrawals, breaking a five-day accumulation streak that had drawn over $1.6 billion since early May. BlackRock's IBIT saw the largest single-day redemption of $98 million, while Fidelity's FBTC faced outflows for the second day. Bitcoin's price retreated from resistance near $82,000 to consolidate around $80,000, triggering significant liquidations of leveraged positions. Meanwhile, retail participation is weakening, with Coinbase and Robinhood reporting revenue declines of 31% and 47%, respectively. Despite short-term pullbacks, long-term bullish sentiment remains due to dollar weakness and speculation about a U.S. Strategic Bitcoin Reserve starting BTC accumulation by 2027.