Spot Bitcoin ETFs dey see 10-day money comot; BTC dey look resistance
Spot Bitcoin ETFs don record im first 10-day outflow streak. From 15–29 May, total withdrawals from Spot Bitcoin ETFs na reach about $2.96B. BlackRock’s IBIT na lead most of di selling wit roughly $2.11B outflows, den Fidelity’s FBTC follow, while some oda issuers get near-zero flows.
Di ETF selling match wit market pullback. Bitcoin drop from around $80K to about $73.8K, show say Spot Bitcoin ETF outflows be one key reason for di downside move.
Derivatives signals add risk for traders. Di OI-weighted funding rate for BTC turn sharply positive, mean many traders dey pay funding fees to shorts but still dey lean long. If buyers no fit reclaim nearby resistance, dis crowded positioning fit raise squeeze-related volatility risk for late longs.
Similar pattern dey for Spot Ethereum ETFs, wey see three-week outflow streak as ETH fall from about $2,300 to around $2,019. Meanwhile, newer token-linked products like HYPE spot ETFs and XRP spot ETFs show steadier inflows, point to capital rotation inside ETF wrappers.
Bearish
Spot Bitcoin ETF outflows don dey turn into clear, persistent headwind for BTC. Di 10-day withdrawal streak (about $2.96B) dey concentrated for IBIT, and di timing align wit BTC sharp pullback toward di mid-$70K area. Even though derivatives positioning show say longs still crowded (strongly positive funding), di mix of ongoing ETF selling and failure to reclaim nearby resistance fit increase volatility and squeeze dynamics wey usually no favour late long entries.
Di picture no full risk-off across all ETFs, since token-linked products like HYPE spot ETFs and XRP spot ETFs dey show comparatively steadier inflows, but for BTC itself di dominant signal remain ETF-driven outflows and a destabilizing derivatives backdrop, making near-term downside risk more likely than upside follow-through.