Recent data reveals that Bitcoin exchange-traded fund (ETF) outflows are rising, signaling a period of caution within the market. However, this trend aligns with historical patterns that often precede significant price rebounds. Analysts point to institutional investment in ETFs between May and July as a key driver of recent Bitcoin price surges above $100,000. 2024’s ETF outflows closely resemble those seen in October before the market saw a significant recovery. The current near -2,000 BTC outflow suggests a potential market bottom, according to Glassnode data. While investors are taking profits at this time, higher lows suggest sustained long-term strength in the Bitcoin market.