<div id="readability-page-1"><img width="1330" height="1183" src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/ChatGPT-Image-May-21-2026-05_46_35-AM.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/ChatGPT-Image-May-21-2026-05_46_35-AM.png"/>Bitcoin (BTC) is embarking on a recovery, trading above $78,000 on Thursday after support around the key Exponential Moving Averages (EMAs) earlier this week.The leading cryptocurrency is up by nearly 2% in the last 24 hours. Significant outflows from Bitcoin ETFs, including approximately $648 million in net redemptions on May 18, led by BlackRock’s IBIT, affected Bitcoin’s price earlier this week.However, the outflow has declined over the past few days as buyers have absorbed the pressure. The momentum indicators are improving, suggesting that the bulls are regaining control of the market.<h2>Spot Bitcoin ETF outflows decline</h2>Bitcoin recorded massive losses earlier this week, dropping below the $77,000 level on Monday.The bearish performance was prompted by massive outflows from Bitcoin ETFs. Bitcoin ETFs recorded an outflow of $648 million on Monday, with total ETF sales exceeding $1 billion since the start of the week.However, the ETF sales have declined over the past 24 hours, with only $70.5 million in outflows recorded on Wednesday, led by BlackRock’s IBIT and Fidelity’s FBTC.In addition to that, retail demand is improving, thanks to the latest price increase. According to CoinGlass, Bitcoin’s future Open Interest (OI) now reads $56.92 billion, up nearly 2% in the last 24 hours. The rising OI indicates increasing retail participation, which could push BTC’s price higher in the near term.The OI-Weighted Funding Rate is also positive, now at 0.0032%. The positive funding rate means that the longs are paying the shorts, adding further confluence to the bullish narrative.<h2>Bitcoin price forecast</h2>The BTC/USD 4-hour chart remains bearish despite Bitcoin adding 2% in the last 24 hours.The leading cryptocurrency by market cap is trading around $78,000 on Thursday after finding support around the 50-day EMA at $76,762.This key technical area is roughly above the previously broken horizontal channel at $75,719, making it a key support zone.The momentum indicators are improving, pointing to a potential rally in the coming days. The Relative Strength Index at 53 is above the neutral 50, suggesting a fading bearish trend.The negative Moving Average Convergence Divergence (MACD) is approaching zero, hinting that downside momentum is waning.If the price recovery continues, initial resistance will be met at the $78,573 swing high, ahead of the 200-day EMA at 81,536.A daily candle close above these levels would allow BTC to extend its rally towards the resistance zone near $83,437, surpassing the $82,756 sell trap.However, if the sellers regain control, they would encounter immediate support at the 50-day EMA at $76,762.<figure><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/BTCUSD_2026-05-21_05-02-14.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1793" height="836" original-src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/BTCUSD_2026-05-21_05-02-14.png"/></figure>Failure to defend this level would expose lower support zones at $74,487, $70,815, and $68,950, where buyers are likely to step in. Bitcoin’s recovery attempts would depend on whether the cryptocurrency defends the 50-day EMA support level in the near term.The post Bitcoin rebounds above $78K as ETF outflows ease, bulls eye recovery appeared first on Invezz</div>

COIN

MARA

Bitcoin (BTC) has rebounded above $78,000, gaining nearly 2% in the last 24 hours after significant ETF outflows eased. Earlier this week, Bitcoin faced pressure from $648 million in net redemptions, but the decline in outflows has improved market momentum. Retail demand is rising, with Bitcoin's future Open Interest increasing to $56.92 billion. Despite a bearish outlook, momentum indicators suggest a potential rally, with key resistance at $78,573 and support at the 50-day EMA around $76,762.

- Bitcoin (BTC) has recovered above $78,000, showing nearly 2% growth in the last 24 hours after experiencing significant ETF outflows of approximately $648 million earlier this week.  
- The decline in ETF outflows and improving momentum indicators suggest that buyers are regaining market control, with retail demand rising as reflected in the increase of Bitcoin's future Open Interest to $56.92 billion.  
- While the BTC/USD 4-hour chart remains bearish, potential resistance lies at $78,573, and Bitcoin's ability to maintain support around the 50-day EMA at $76,762 is crucial for sustaining the recovery.

Invezz

Coinbase

Mara

Hut 8 Mining

American Bitcoin

Bitfarms Canada

Riot Platforms

Fidelity Wise Origin Bitcoin Fund - ETF

WisdomTree Bitcoin Fund

GraniteShares 2x Long COIN Daily ETF

Bitwise Bitcoin ETF

Invesco Galaxy Bitcoin ETF

Leverage Shares 2X Long COIN Daily ETF

GraniteShares 2x Long MSTR Daily ETF

CoinShares Bitcoin ETF

ProShares Bitcoin Strategy ETF

Franklin Bitcoin ETF

iShares Bitcoin Trust ETF

ARK 21Shares Bitcoin ETF

VanEck Bitcoin ETF

GraniteShares 2x Long MARA Daily ETF

Direxion Daily Crypto Industry Bull2XETF

BlackRock

BlackRock Tech and Private Equity Term Trust

BLACKROCK MULTI-SECTOR INCOME TR COM USD0.001(S/R 09/09/2025) WI

Blackrock Enhanced Div Achievers Trust

BlackRock Science and Tech Term Trust

BlackRock Multi-Sector Income Trust

Bitcoin rebounds above $78K as ETF outflows ease, bulls eye recovery