Crypto's recovery remains elusive as SpaceX, Anthropic IPOs loom
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- Bitcoin fell toward $60,000 as U.S. spot ETFs recorded $1.72 billion net outflows in a week with $18.43 billion total trading volume.
- U.S. spot ETFs logged a third straight week of accelerating redemptions, with outflows rising from $318 million in February to $1.72 billion now while weekly volume fell from $46.15 billion to $18.43 billion.
- Crypto market liquidity is being drained, indicating a steady exodus rather than a shock‑driven capitulation and casting doubt on the sustainability of Bitcoin’s bounce.
- SpaceX and Anthropic IPOs, among the largest ever, are expected to siphon liquidity from broader markets, including crypto, reducing the chance of a dramatic resurgence in ETF demand.
Why it matters: ETF outflows of $1.72 billion and low trading volume have already drained crypto liquidity, and the massive upcoming SpaceX and Anthropic IPOs add to the squeeze, weakening Bitcoin price support.
