Woofun AI reports that BlackRock's iShares Bitcoin Trust (IBIT) has transitioned from a primary demand channel to a significant redemption source, recording $1.30 billion in weekly outflows. This volume dominates the ETF complex, establishing a sell wall that spot buyers must absorb near the $59,000-$62,000 support zone. While these outflows indicate transmission risk rather than immediate on-chain sales, the scale of IBIT redemptions serves as a critical indicator of price-sensitive institutional behavior. The market is currently testing whether non-ETF spot buyers can defend prices against this exit pressure, determining if the ETF complex remains a net positive or becomes a recurring supply source.