U.S. spot bitcoin ETFs saw 10 consecutive trading days of outflows totaling $2.97 billion, pressuring prices amid broader market shifts.
Bitcoin extended its decline as U.S. spot bitcoin ETFs recorded a record $2.97 billion in outflows over 10 trading days through Friday. The streak marks the longest period of withdrawals since the products launched earlier this year, weighing on sentiment despite broader equity market gains.
The outflows coincided with a rally in global equities driven by AI-related stocks like Nvidia and SoftBank, while oil prices rebounded on stalled Iran deal negotiations. Prior to this streak, spot bitcoin ETFs had seen mixed flows, with inflows dominating earlier in the year as institutional interest grew.
The sell-off in bitcoin contrasts with the record highs in major stock indices, highlighting divergent market trends. No immediate market reaction data was provided for crypto assets or related equities.