CoinDesk
U.S.-listed spot bitcoin ETFs shed $1.72 billion in net outflows last week — the largest single-week redemption in over a year, per SoSoValue data — as Bitcoin returned to the $60,000 area. The print dwarfs the $318 million that left the same funds during the first week of February, when BTC last traded near that level, and marks the fourth consecutive week of accelerating redemptions.
Weekly outflows rose from $1 billion in the week ended May 15, to $1.26 billion the following week, $1.42 billion the week after, and now $1.72 billion. February told the opposite story: the two weeks before BTC hit $60K saw $1.33 billion and $1.49 billion leave, but the selling slowed to $318 million as price dropped — buyers showed up beneath the level. This round, redemptions have steepened as price has fallen, with no comparable institutional bid visible in the flow data.
Why it matters
The February retest of $60K functioned as support because institutional sellers exhausted themselves into the dip. The current retest is failing that test by a different mechanism: sellers are not exhausting, they are accelerating. NYDIG head of research Greg Cipolaro frames the move as a confluence of overlapping headwinds rather than a single catalyst — AI-sector momentum rotating capital out of crypto, high-profile tech IPOs drawing liquidity, quantum and security fears, U.S. sanctions on Iranian crypto exchanges, and Strategy's own BTC sale all weighing on the bid simultaneously.
Market impact
BTC changed hands near $62,000 as of writing, hovering just above the $60K line that institutional flow now treats as resistance rather than support. With four straight weeks of rising outflows and no sign of absorption, the $60K level's role has effectively flipped: the price point that previously attracted dip-buyers is now the exit point for ETF allocators. Watch the next weekly flow print — a fifth week of acceleration would confirm the structural break; any meaningful deceleration would reopen the February playbook.
Frequently asked questions
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How much did spot bitcoin ETFs lose last week?
U.S.-listed spot bitcoin ETFs saw $1.72 billion in net outflows last week, the largest single-week redemption in over a year according to SoSoValue data.
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How does this compare to February's $60K retest?
In early February, when BTC last traded near $60,000, the same ETFs shed just $318 million. This week's $1.72 billion outflow is more than five times larger, with redemptions accelerating as price fell rather than slowing into the dip.
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How many weeks have ETF outflows accelerated?
Four consecutive weeks. Weekly outflows rose from $1 billion (week ended May 15) to $1.26 billion, then $1.42 billion, and most recently $1.72 billion — a steady steepening through May and into June.
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Why is bitcoin under pressure now?
NYDIG head of research Greg Cipolaro attributes the selloff to multiple converging headwinds: AI-sector momentum, high-profile tech IPOs drawing liquidity, quantum and security concerns, U.S. sanctions on Iranian crypto exchanges, and Strategy's own BTC sale.
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What is the key level to watch for BTC?
The $60,000 area, which previously functioned as support when institutional buyers absorbed February's selling. The current flow pattern — accelerating outflows with no comparable bid — suggests the level has flipped to resistance, making next week's flow print the next decisive data point.
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