BTC remains under pressure as ETF outflows, higher oil prices weigh on crypto markets: Crypto Daily
Bitcoin and most major cryptocurrencies stayed under pressure as record outflows from U.S. spot bitcoin ETFs, higher oil prices, and weakening retail demand weighed on sentiment. BTC fell about 1.4% to below $73,000, ether dropped 2.1% to about $1,980, and the CoinDesk 20 index declined 2.38%. The weakness followed a 10-session, $2.97 billion outflow streak from U.S. spot bitcoin ETFs, the longest on record, including a rapid $1.2 billion withdrawal. Market participants also pointed to a lack of fresh demand, including Strategy not buying BTC, and continued softness in retail interest. That leaves crypto vulnerable to underperforming equities, which are being lifted by AI enthusiasm. Separately, Hyperliquid’s HYPE token hit new highs against Solana’s SOL, though weakening momentum suggests a possible short-term pullback rather than a trend break.
