Bitcoin slides as spot ETF outflows hit $2.97B record
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- spot bitcoin ETFs logged a ten‑day outflow streak of $2.97 billion, the longest on record, with a $733 million single‑day exit on May 27, the biggest since January.
- Ether ETFs experienced a 14‑session outflow streak, draining about $2.6 billion over the same period.
- Bitcoin fell 4.6 % in the past week to $73,397, while other major cryptocurrencies also slipped.
- HYPE token rose 18.7 % to $73.17, and its U.S. spot HYPE ETF recorded inflows every session since its May 12 launch, reaching net assets above $122 million.
- Brent crude rose above $93 a barrel as stalled U.S.–Iran ceasefire talks and limited progress reopening the Strait of Hormuz kept Middle‑East tensions high.
- Global equities hit fresh highs, with the MSCI All Country World Index up 0.2 % and Asian markets up 1.1 %, driven by AI‑related gains from Nvidia, SoftBank and others.
Why it matters: Investors in Bitcoin and Ether lost billions as record ETF outflows sapped liquidity, while the HYPE token and its ETF attracted inflows, highlighting divergent performance within crypto. The broader market saw equity gains from AI stocks, but rising oil and geopolitical tension kept risk sentiment cautious.
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