CoinEx News: Bitcoin traded below $78,000 on May 25 as U.S. spot Bitcoin ETF redemptions extended into a second heavy week and Strategy paused its usual BTC buying signal. SoSoValue-cited data showed spot Bitcoin ETFs posted about $1.257 billion of net outflows over May 18-22, after roughly $995.5 million left in the week ending May 15, taking two-week outflows above $2.2 billion; Michael Saylor said on May 24 that Strategy bought bonds, not bitcoin, while U.S. equity markets were closed on Monday. The combined signal keeps BTC's institutional-demand gauge under pressure, making this week's ETF flow data and Strategy's next disclosure key tests for rebound quality.