BTC recovery at risk as ETF outflows hit $1.72B for third…

Bitcoin's bounce looks fragile after the 11 U.S. spot ETFs recorded $1.72 billion in net outflows last week — a third consecutive week of accelerating redemptions — even as BTC slid toward $60,000. Total weekly trading volume came in at just $18.43 million, a stark contrast to the $46.15 billion seen during a comparable $60,000 crash in early February, when outflows were a far smaller $318 million.

The divergence is the key signal: February's outflows reflected panic and capitulation, with bulls and bears actively contesting the move. Last week's outflows happened in near-silence, pointing to a slow, steady exodus rather than the shock-driven flush that typically marks a local bottom. That distinction matters for anyone trying to call a reversal.

Why it matters

Bitcoin's path back to a convincing uptrend likely requires a dramatic resurgence in ETF demand — and the near-term setup makes that difficult. Two of the largest IPOs in history, SpaceX and Anthropic, are looming, and the capital rotation they attract could continue pulling liquidity from broader risk markets, including crypto. Meanwhile, U.S. May inflation data due this week is expected to show the cost of living rose above 4%, a print that could add volatility across bonds and equities and weigh further on sentiment.

Market impact

On the technical side, BTC is approaching the 61.8% Fibonacci retracement level at $57,799 — the so-called golden ratio defined by the rally from the 2022 bear-market low to the 2025 bull-market high. This level is widely tracked as a critical inflection point. A clean break below it would likely accelerate the selloff.