US spot Bitcoin ETFs end 5-day gain with $277.5M outflow, BTC price dips below $80K

US spot Bitcoin ETFs saw a $277.5 million outflow on May 7, ending a five-day winning streak after attracting over $1.6 billion earlier in May. Despite this, these ETFs still hold about $106.77 billion in Bitcoin. Major funds like BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund experienced notable outflows, signaling reduced institutional demand. Bitcoin’s price briefly dropped below $80,000 after failing to sustain gains above $82,000, highlighting cautious investor sentiment amid mixed ETF flows. Traders will watch ETF flows closely to determine if this outflow signals a temporary pause or a trend reversal.