Bitcoin climbed back above $76,000 on Tuesday, reversing a three-day decline that tested support levels. The recovery happened despite continued weakness in U.S. spot Bitcoin ETFs, which posted outflows for the third straight day.
The disconnect between price action and ETF flows signals competing forces in the market. Institutional investors tracked by spot ETFs reduced positions, yet spot buying from other sources, including international markets and retail traders, absorbed selling pressure.
Bitcoin spot ETFs in the United States have accumulated $20 billion in net inflows year-to-date, but the recent outflow streak indicates profit-taking after the asset rallied from $60,000 in October. Daily outflow totals reached hundreds of millions of dollars across Grayscale Bitcoin Mini Trust, iShares Bitcoin Trust, and Fidelity Wise Origin Bitcoin Trust.
On-chain metrics show whale accumulation continued during the dip. Addresses holding 1,000 Bitcoin or more added net positions, suggesting long-term holders viewed weakness as a buying opportunity rather than a capitulation signal.
Analysts attribute the rebound to bargain hunting and reduced liquidation risk as funding rates on major perpetual futures exchanges fell from peaks above 0.1% annually. The market stabilized around $76,000, setting up a potential test of $80,000 resistance if buying pressure persists.