U.S.-listed Bitcoin ETFs see largest weekly outflow since January as rising Treasury yields dampen demand for non-yielding assets.
U.S.-listed spot Bitcoin exchange-traded funds recorded $2.26 billion in outflows over the past two weeks, pressuring BTC prices below $80,000. The outflows accelerated as Treasury yields hit their highest levels since 2007, reducing investor appetite for assets like Bitcoin that do not generate yield.
Last week alone, investors pulled $1.26 billion from spot Bitcoin ETFs, the largest weekly outflow since January. The previous week saw $1 billion in withdrawals. Bitcoin’s price briefly dipped below $75,000 over the weekend, down nearly 10% from its May 6 peak of $82,500.
Analysts note speculative capital is shifting toward commodities like crude oil and copper amid geopolitical risks, as well as toward SpaceX’s upcoming IPO in June. Bitcoin hit an all-time high of $126,000 last October but has struggled to regain momentum.