Bitcoin Hits $74,000 as ETF Investors Withdraw $291M in a Single Day

U.S. spot Bitcoin ETFs bled $291.11 million on April 13, the largest single-day outflow in recent weeks, even as Bitcoin’s price climbed to $74,000. The divergence suggests institutional investors are exiting positions despite improving technical signals. Bitcoin broke above a descending channel that had defined its bear trend, testing the 100 EMA at $75,275—the first such test since the downturn began. The 20 EMA at $70,826 and 50 EMA at $71,005 both sit beneath the current price and are beginning to slope upward, a bullish alignment not seen since the asset’s peak. Support sits at $71,005, then $70,826, and $68,721. Resistance looms at $75,275, followed by $80,000 and $83,218. Despite the momentum, most ETFs saw outflows, with only BlackRock’s IBIT bucking the trend, drawing $34.70 million in inflows. The selling pressure from ETFs underscores a split between retail-driven price action and institutional sentiment.