Bitcoin Dips Below $80K Amid ETF Outflows and STRC Cycle
- Bitcoin hit an intraday low of $78,795 as U.S. spot Bitcoin ETFs recorded $630 million in outflows on May 13.
- Strategy’s STRC stock has boosted mid-month buying rallies, increasing from 4,467 BTC in January to nearly 46,872 BTC in April.
- On prediction market Myriad, users estimate an 85% chance that Bitcoin’s next major move will reach $84,000.
- Despite the dip below $80,000 this week, analysts expect a brief decline due to structural buying mechanisms tied to Strategy’s preferred stock.
Bitcoin experienced significant outflows from ETFs amounting to $630 million—the largest daily exit in three months—causing its price to dip below $80,000. However, optimism remains high with a strong belief in a rebound driven by Strategy’s STRC stock activities and potential market movements predicted by users on Myriad.
The upcoming STRC ex-dividend date may test whether the pattern of mid-month rallies holds for the fourth consecutive month or if its impact is waning due to reduced demand for the preferred shares . (Source )
