On Wednesday, BlackRock's iShares Bitcoin Trust (IBIT) recorded an outflow of $527.84 million, marking its second-largest single-day loss. This outflow is part of a broader trend affecting all US Spot Bitcoin ETFs, which collectively lost $733.43 million in a single day. The ETF sector has now seen over $2 billion in outflows over the past two weeks, coinciding with a decline in Bitcoin's price from above $82,000 to below $73,000. Notably, a $1.29 billion dark-pool block sale occurred just before the outflow, suggesting that institutional investors are adjusting their Bitcoin holdings in response to worsening macroeconomic conditions. IBIT, which manages approximately $59 billion in assets and represents nearly 4% of Bitcoin's total supply, is particularly influential; redemptions require the fund to sell Bitcoin, further driving down prices. As Bitcoin's momentum weakens, technical indicators suggest that the cryptocurrency may face continued challenges ahead.