Bitcoin ETFs Experience Record Outflows Amid Market Shift
- Bitcoin ETFs saw nine consecutive days of outflows, totaling $2.8 billion by May 28.
- The largest single-day outflow was $733.43 million, with BlackRock’s IBIT contributing $527.84 million.
- Whale balances are declining year-on-year at a pace similar to the bear phase of 2022.
- Long-term holder supply reached a record of 15.8 million BTC, indicating an absence of new buyers.
The significant outflows from Bitcoin ETFs suggest a shift in investor sentiment, exacerbated by external factors such as geopolitical tensions and the AI boom drawing attention to traditional markets like the S&P500.
As Bitcoin trades below $74,000, revisiting six-week lows, these ETF outflows highlight waning demand and potential market recalibration away from cryptocurrency investments toward more stable sectors.(Source)
