Bitcoin ETF post 9-day outflows (US$2.8B) as BTC dey slip; AI/semis dey suck liquidity
US Bitcoin ETF don record 9 straight trading days wey get net outflows, dem don pull about $2.8B since the streak start — na di longest losing run since spot Bitcoin ETFs start for January 2024. May cumulative outflows na about $2.3B, and this week alone na account for roughly $1.3B. During the selloff, BTC drop from around $80,000 to near $73,000.
The article link the liquidity drain to US tech leadership. As Big Tech dey increase AI infrastructure spending, capital dey rotate comot from crypto go AI and semiconductor equities. E also highlight institutional selling: BlackRock’s IBIT record im biggest single-day outflow since launch, reportedly tied to one large dark-pool transaction.
Despite the bearish flow data, the piece point to historical pattern from Glassnode: extreme, persistent ETF outflows — wey people often dey track with a 14-day moving average — fit coincide with local bottom forming. Traders suppose read this as “sell pressure still active,” but stretched outflow conditions fit set up stabilization or tactical bounce for BTC.
Neutral
Di news dey bearish for short term because Bitcoin ETF outflows still dey persistent and big (9 sessions straight, about $2.8B total; about $1.3B for one week), wey align with BTC underperformance during the same time. Another data point—IBIT biggest single-day outflow wey link to a dark-pool transaction—confirm say institutional selling pressure still dey.
But the article mention historical tendency (Glassnode flow troughs around major turning points, using an extreme 14-day moving average) wey argue against only bearish reading. When outflows reach "extreme" level, sellers often dey exhausted and conditions fit shift to stabilization. So the likely trading implication mixed: downside momentum fit continue initially, but risk/reward fit improve for tactical longs or hedges as market near potential local-bottom behavior.