Spot Bitcoin ETFs experienced $648.64 million in outflows on Monday, led by BlackRock's IBIT with $448 million, following last week's $1 billion outflows. Bitcoin dropped 6.7% from $81,700 to a weekly low of $76,201, currently trading around $76,680. Analysts point to the U.S.-Iran conflict escalation and U.S. inflation data as key drivers, with the Crypto Fear and Greed Index dropping to 25 ("Extreme Fear"). Despite bearish sentiment, long-term holders have consistently accumulated BTC for months, limiting downside potential. Bitcoin's funding rates have flipped positive after a multi-month negative streak, indicating renewed long interest. Prediction market Myriad shows 77% chance Bitcoin reaches $84,000 next, down from 89% last week.

Key facts

• Bitcoin ETFs saw $648.64M outflows Monday, with BlackRock's IBIT leading at $448M.
• Bitcoin price dropped 6.7% last week to $76,201, now trading around $76,680.
• Analysts cite U.S.-Iran tensions and inflation data as key outflow drivers.
• Crypto Fear and Greed Index falls to 25, indicating "Extreme Fear."
• Long-term holders' accumulation and positive funding rates suggest limited downside.

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