Bitcoin exchange-traded funds (ETFs) have faced significant outflows totaling $635 million as Bitcoin's price fluctuates around $80,000. This marks the largest daily withdrawal since January, with BlackRock’s iShares Bitcoin Trust (IBIT) leading losses with approximately $285 million in outflows. The recent volatility follows a 37% rally from April lows, prompting analysts to point to profit-taking pressures. The ARK 21Shares Bitcoin ETF (ARKB) and Fidelity Wise Origin Bitcoin Fund (FBTC) also recorded significant withdrawals of $177 million and $133.2 million, respectively. In contrast, Morgan Stanley’s Bitcoin Trust ETF (MSBT) has seen no outflows since its launch on April 8, accumulating around $256 million. Ether (ETH) ETFs have similarly experienced outflows, totaling $184 million this week. Analysts suggest that Bitcoin may find support near $70,000, a level historically significant during bear markets, as it represents the average cost basis for short-term traders.