According to Cointelegraph, the crypto analysis platform Swissblock stated that Bitcoin is sliding into a high-risk environment due to continuous selling by institutions. Its Bitcoin risk index is currently at 33 points, in the high-risk zone. Swissblock pointed out that every time the risk index signals a structural selling pressure overwhelming the market, it is backed by institutions selling off.
Glassnode reported that since May 7, the U.S. Bitcoin ETF has recorded net outflows almost every trading day, with continuous institutional selling signals increasing pressure on the supply side for more than two weeks, while demand has not offset this. CoinEx chief analyst Jeff Ko stated that over the past two weeks, more than $2 billion has flowed out of spot ETFs, and institutional risk appetite remains in a marginally sensitive state. News of the U.S. launching new strikes against Iran on Tuesday morning further intensified the risk, causing Bitcoin to drop by 1%, falling from $77,000 to below $76,500.
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