Bitcoin (BTC) has surged past the $80,000 mark, recovering from a dip to $78,885. This price action comes despite significant outflows from Bitcoin exchange-traded funds (ETFs), which totaled $635.2 million on Wednesday, marking the largest daily withdrawal since January 29. The total weekly outflows now stand at $841.2 million, indicating the first week of net losses after six consecutive weeks of gains totaling around $3.4 billion. The BlackRock iShares Bitcoin Trust led the outflows with approximately $285 million, while ARK 21Shares Bitcoin ETF and Fidelity Wise Origin Bitcoin Fund followed with $177 million and $133.2 million, respectively. On-chain analysts suggest that Bitcoin may find support around $70,000, a level that has historically acted as a key resistance-turned-support during bear markets. Despite the current recovery, capital inflows lag behind historical bull market levels, currently at $2.8 billion per month, significantly lower than the $10 billion seen during prior expansions.