Spot bitcoin ETFs post 13 straight days of net outflows, pushing total assets down to $82.8bn from $107.8bn in mid-May.
Bitcoin fell 13% this week, its steepest decline since February, as spot ETFs recorded a 13th consecutive day of net outflows. Total assets in these funds dropped to $82.8bn from $107.8bn on May 14, marking the longest outflow streak on record.
The sell-off accelerated after Strategy disclosed its first bitcoin sale since 2022, offloading 32 BTC for $2.5 million to cover preferred stock dividends. The move triggered $594 million in long liquidations across exchanges within 24 hours. Analysts note bitcoin’s failure to serve as a hedge against inflation or volatility, eroding its dominant market narratives.
Markets now await Strategy’s next disclosure on Monday for signs of stabilization or further selling pressure. Historical patterns suggest a potential trough below $40,000 by late October if the four-year cycle holds.