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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InAmid rising anxiety among institutional investors, cryptocurrency ETFs have experienced a historic wave of outflows reflecting a sharp shift in risk appetite. According to reports, spot Bitcoin ETFs posted a 10-day consecutive outflow streak, while Ether ETFs suffered from capital flight for 14 straight sessions. Total outflows from these crypto funds reached nearly $3 billion during this period, exerting significant downward pressure on spot market prices.
This retreat comes as digital assets face stiff competition from higher bond yields, especially after US CB Consumer Confidence data released on May 26 printed at 93.1, beating the 91.9 forecast and reinforcing 'higher-for-longer' interest rate expectations. In contrast to earlier performance, major funds like BlackRock's IBIT had attracted record inflows earlier this year before the current liquidation trend took hold, per market data.
Traders should closely monitor technical support levels for BTC and ETH as institutional selling persists, with a focus on upcoming US economic data as a primary liquidity driver. Notably, US GDP growth data released on May 28 showed a 1.6% expansion, missing the 2% forecast, which could shift expectations regarding Fed monetary policy and subsequently impact the appeal of high-risk assets in the coming weeks.
Update: Continued selling pressure has pushed Bitcoin's market capitalization down to approximately $1.46 trillion, causing it to fall behind tech giants like NVDA, AAPL, and MSFT in global asset rankings. Meanwhile, Gold maintains its position as the world's most valuable asset with a market cap near $31 trillion, highlighting a significant valuation gap between traditional and digital assets.
Update: Market focus has shifted toward spot technical levels, with Bitcoin trading near $73,000 amid warnings of a potential correction toward $65,000. Analysts note that the current technical setup differs fundamentally from the price breakdown seen in February, adding complexity to the short-term outlook.