Bitcoin fell 4.6% over the past seven days to $73,397 as U.S. spot bitcoin ETFs logged a record tenth consecutive day of outflows, with $2.97 billion drained between May 15 and May 29, per SoSoValue data. The streak broke the previous record of eight consecutive outflow sessions set in early 2025, headlined by a $733 million single-day exit on May 27—the largest since January.

Market Context

The cryptocurrency market failed to track Wall Street's AI-driven equity rally Monday. While bitcoin and altcoins slid, global equities pushed higher as SoftBank Group jumped as much as 11% on its OpenAI and Arm holdings, putting the Japanese conglomerate on track to become Japan's most valuable listed company. The MSCI All Country World Index gained 0.2%, and Asian equities advanced 1.1% to an all-time high, with tech benchmarks in South Korea, Taiwan and Japan setting records. Nasdaq 100 futures rose 0.6% after Nvidia said it would enter the Windows laptop market.

Analysis

The macro tailwind crypto was counting on has shifted. Brent crude climbed above $93 a barrel as efforts to reopen the Strait of Hormuz showed little progress and Middle East tensions stayed elevated, sending Treasuries lower across the curve. The oil bounce—driven by stalling U.S.-Iran ceasefire talks—has complicated the narrative for digital assets, which often trade inversely to energy-driven inflation pressures.

Spot bitcoin ETF outflows have accelerated precisely as the vehicles that powered last year's rally go into reverse. Total net assets across U.S. spot bitcoin ETFs fell from $104.29 billion on May 15 to $94.17 billion by Friday—a roughly 10% drawdown in three weeks. Ether ETFs are running an even longer 14-session outflow streak, with approximately $2.6 billion drained over the same window.

Hyperliquid's HYPE has been the lone outlier among top-ten market cap tokens, gaining 18.7% to $73.17 over seven days. The token's U.S. spot ETF, which launched May 12, has logged inflows in every single trading session since, lifting cumulative net assets above $122 million by Friday—a signal that selective institutional demand persists even as broader crypto sentiment weakens.

Key Numbers

- Bitcoin (BTC): $73,397, down 4.6% week-over-week

- Ether (ETH): $1,996, down 4.6% week-over-week

- Solana (SOL): $81.89, down 3.7% week-over-week

- Dogecoin (DOGE): $0.1004, down 1.6% week-over-week

- Spot bitcoin ETF outflows: $2.97 billion over 10 sessions through May 29

- Single-day record exit: $733 million on May 27

- Bitcoin ETF net assets decline: from $104.29B to $94.17B in three weeks

- Ether ETF outflow streak: 14 consecutive sessions, ~$2.6 billion drained

- Brent crude: above $93 per barrel

What to Watch

Traders should monitor whether the spot bitcoin ETF outflow streak extends to eleven sessions or breaks this week. The $73,000 level has emerged as near-term support, with next resistance at the $76,000-$78,000 range. Ether ETF flows—now on a 14-session streak—will be closely watched for signs of stabilization. Oil's trajectory above $93 and any updates on Iran negotiations could further influence crypto sentiment in the coming days.