Bitcoin ETFs Shed $2.8B in Record-Breaking Nine-Day Streak
Spot Bitcoin ETF demand is weakening sharply, with $2.8 billion in outflows over nine straight days since May 15 and the largest single-day outflow this year on Wednesday. BlackRock’s IBIT accounted for much of the selling. Weekly outflows have grown from about $1 billion to $1.26 billion, and this week is already at $1.30 billion, pushing year-to-date ETF flows negative. The shift reflects broader risk rotation away from crypto and toward equities, especially AI-linked stocks, as U.S. markets hit record highs while Bitcoin fell below $74,000 after failing near $82,000. Market sentiment has turned bearish: prediction markets now favor a move to $84,000 with less conviction than before. On-chain data also points to weakness, with whale holdings shrinking, dolphin growth slowing, and current long-term holder supply seen as a sign of limited new buyer demand rather than accumulation.
