Bitcoin Price Prediction: Saylor Calls It a Spring Phase as BTC ETFs Bleed $2.15B in Two Weeks

• BTC spot ETFs bled $1.15B in weekly outflows through May 21 with Friday still uncounted, marking the second straight week above $1B in exits
• Saylor told CNBC he expects Bitcoin to outperform the S&P 500 at 30% annually, called current levels a spring phase, and said BTC bottomed at $60,000
• Price sits below all four EMAs at $77,208 with the 0.5 Fib at $75,574 as the next support and three FVG zones stacking between $67,500 and $72,500

Bitcoin trades at $77,208 on May 22, sitting below all four EMAs as spot ETFs record their second straight week above $1B in outflows, while Saylor told CNBC the market bottomed at $60,000 and is entering a spring phase.

Bitcoin Price Analysis: EMA Cluster Overhead, FVGs Below

BTC lost the 0.618 Fib at $79,249 and the ascending channel from the April lows. The 20 EMA at $78,274, 50 EMA at $76,802, and 100 EMA at $76,886 are all converging near current price, making the $76,800 to $78,300 range a ceiling rather than a floor. Every bounce attempt into that zone faces immediate selling pressure from three overlapping EMAs.

Related: Cardano Price Prediction: Hoskinson Warns IOG Lab Shuts Down…

Above that, the 200 EMA at $81,637 and 0.705 Fib at $81,958 are the macro resistance levels that rejected BTC in early May. Below current price, the 0.5 Fib at $75,574 is the first support, followed by three FVG zones stacking between $67,500 and $72,500.

BTC Key levels for May 23:

• Resistance: $78,274 (20 EMA), $81,637 (200 EMA), $81,958 (0.705 Fib)
• Support: $75,574 (0.5 Fib), $71,898 (0.382 Fib), $67,500 to $72,500 FVG cluster

Bitcoin Spot ETF Outflows: $2.15B Gone in Two Weeks

The week ending May 21 recorded $1.15B in outflows before Friday’s session is counted. The prior week saw $1.00B leave. Back-to-back weeks above $1B in outflows is the most sustained institutional de-risking since these products launched. BlackRock’s IBIT led May 21 with $103.65M out. Total net assets sit at $101.06B, down from the $109B peak in early May with cumulative inflows at $57.19B.

The April inflow weeks that pulled in $800M to $1B weekly have fully reversed. The direction over the past two weeks is one-way.

Michael Saylor on CNBC: Spring Phase, 30% Target, and Digital Credit

Saylor said BTC peaked near $125,000 in October, bottomed at $60,000, and is now in what he called a spring phase with decent support at current levels. He expects Bitcoin to outperform the S&P 500 over time, targeting 30% annual appreciation, and described current macro headwinds as temporary.

On STRC, Saylor explained it as a structured product that converts Bitcoin’s expected capital appreciation into an 11.5% tax-deferred dividend, calling it a bank account paying four times the money market rate. The product grew from zero to $10.5B in ten months at a $24B annual run rate. His broader point was that Strategy’s credit market is absorbing all organic Bitcoin supply from miners, with the company buying more BTC this year than miners have produced. He also dismissed quantum computing as an existential threat, saying the network would upgrade within months if a genuine vulnerability emerged.

Bitcoin Price Prediction for May 23

• Upside: Reclaiming $78,274 on a daily close puts $81,637 back in view. CLARITY Act Senate floor progress or slowing ETF outflows would be the trigger. Saylor’s spring phase thesis and the MVRV accumulation zone both support the medium-term case.
• Downside: Friday’s ETF data could push weekly outflows above $1.2B. Staying below $78,274 with the EMA cluster overhead keeps pressure on $75,574. A daily close below that opens the FVG cluster between $67,500 and $72,500.

Related: Pi Network Price Prediction: OKX Lists PI for US Users as Founders Speak at Consensus 2026