Spot Bitcoin ETFs see record 10-day outflow streak, analyst calls it ‘contrarian indicator’
Spot Bitcoin ETFs have seen 10 straight trading days of net outflows, with redemptions topping $2.97 billion since May 15. Daily withdrawals ranged from about $70 million to $733 million, and total spot Bitcoin ETF assets fell from $104.29 billion to $94.17 billion in two weeks, roughly a $10 billion drop. The streak surpassed the prior record of eight consecutive outflow days. The sustained withdrawals are being viewed by some as a contrarian signal. Santiment Intelligence said extreme ETF outflows often coincide with “peak fear” and may indicate a local market bottom is approaching, since prices can move opposite to crowd expectations. Spot Ether ETFs have also posted a long outflow streak, with 14 straight sessions of redemptions and assets down by about $2.6 billion over the same period.
