Bitcoin Price Stabilizes at $77,294 Amid Growing ETF Outflows

Bitcoin Prices Stabilize, but Market Sentiment Remains Fearful

Bitcoin prices experienced a dip to a low of $77,293 during the early May 22 trade, but recovered some gains to trade at $77,572, down 0.38 percent over the last 24 hours. Despite the recovery, the market sentiment remains fearful, with the fear and greed index still at 39.

According to Riya Sehgal, Research Analyst at Delta Exchange, Bitcoin holds the $76,000–$76,500 support zone, while $77,900–$78,500 remains the immediate breakout area. Ethereum continues to trade below major moving averages and remains weaker relative to BTC.

Read also: Bitcoin Price Sinks 6% Below $66,500 Amid ETF Outflows and Institutional Selling

Other major cryptos followed the cue, with Venice Token leading the top gainers with over 12.64 percent jump, followed by Siren by 8.21 percent and MemeCore & Algorand by more than 7.80 percent each.

Riya Sehgal estimates that on the macro side, higher oil prices, rising US rate expectations, ETF outflows, and softer institutional demand continue to cap upside momentum. However, funding rates and leverage have normalized after recent deleveraging, suggesting the market is entering a consolidation phase ahead of the next directional move.

The broader market continues to demonstrate resilience, and periods of uncertainty have historically contributed to stronger infrastructure development and deeper institutional confidence in the sector. Vikram Subburaj, CEO of Giottus, suggests that investors should stagger entries near support, avoid leverage below $80,000, and treat any fall below $76,500 as a risk-control signal.

Avinash Shekhar, Co-Founder & CEO of Pi42, emphasizes the importance of remaining informed, maintaining portfolio discipline, and focusing on long-term market fundamentals instead of reacting to speculative narratives or short-term price fluctuations. He suggests that investors closely monitor how exchanges, custodians, and blockchain ecosystems are preparing for future technological advancements while continuing to diversify exposure across the digital asset space.

Read also: Bitcoin's Inflation-Hedging Potential Erodes as Price Falls Below $70,000