U.S.-listed spot Bitcoin exchange-traded funds have experienced more than $2.26 billion in net outflows over the past two weeks, adding pressure to an already weakening crypto market.
Bitcoin (BTC) has come under sustained selling pressure as investors continue to exit spot ETF positions. The cryptocurrency briefly fell to $74,305 early Saturday, marking its lowest level since April 20, according to CoinDesk data. At the time of writing, BTC was down more than 3% over 24 hours and roughly 10% below its recent high above $82,500 reached on May 6.
The downturn has coincided with rising U.S. Treasury yields and higher government bond yields across major developed economies, dampening appetite for non-yielding risk assets such as Bitcoin.
ETF flow data underscores the scale of the trend, with $1.26 billion in outflows recorded this week alone—the largest weekly withdrawal since January—following about $1 billion in redemptions in the prior week.
At the same time, commodities such as oil, copper, and sulfur have attracted stronger speculative interest as markets price in potential supply disruptions related to tensions in the Strait of Hormuz amid the ongoing Iran conflict.
Some analysts also point to capital rotation effects, suggesting that investor attention may be shifting toward anticipated opportunities such as SpaceX’s future IPO. Blockchain-based pre-market derivatives linked to the listing have already seen increased trading activity on decentralized platforms.
