Bitcoin is facing renewed downside pressure after spot Bitcoin ETFs recorded $175 million in net outflows, signaling cooling institutional demand. The outflows coincided with profit-taking near recent highs and broader risk-off sentiment across global markets. Analysts say a drop toward the $80,000 level is possible if selling pressure continues and key technical supports break. However, longer-term sentiment remains cautiously optimistic, with ETF inflows, macro easing expectations and the upcoming halving cycle still viewed as potential catalysts for a rebound.