U.S.-listed spot Bitcoin exchange-traded funds have seen more than $2.26 billion in net outflows over the past two weeks, highlighting renewed pressure across the crypto market.
Bitcoin (BTC) has extended its decline as investors continue pulling funds from spot ETF products. The cryptocurrency briefly slipped to $74,305 early Saturday, its lowest level since April 20, according to CoinDesk data. At the time of writing, BTC was down over 3% in the past 24 hours and roughly 10% below its recent high above $82,500 recorded on May 6.
The sell-off comes alongside a rise in U.S. Treasury yields and higher sovereign bond yields in other developed markets, reducing demand for non-yielding assets such as Bitcoin.
ETF flow data shows $1.26 billion in outflows this week alone—the largest weekly withdrawal since January—following around $1 billion in redemptions in the previous week.
Meanwhile, commodity markets including oil, copper, and sulfur have attracted increased speculative inflows as traders price in potential supply disruptions tied to tensions in the Strait of Hormuz amid the ongoing Iran conflict.
Some market participants also suggest a broader capital rotation, with attention potentially shifting toward upcoming opportunities such as SpaceX’s anticipated IPO. Blockchain-based pre-market derivatives linked to the listing have already recorded notable trading activity on decentralized platforms.
