A record $2.97 billion 10-session outflow streak from spot bitcoin ETFs and a further rise in oil prices following stalled U.S.-Iran ceasefire negotiations helped keep bitcoin buoyant. and the broader crypto market is under pressure even as AI trading on Wall Street pushed global stocks to new record highs in Asian trading on Monday.
The MSCI All Country World Index gained 0.2% on Monday and Asian stocks rose 1.1% to an all-time high, with the flagship technology indexes of South Korea, Taiwan and Japan all setting records, Bloomberg reported.
Nasdaq 100 futures rose 0.6% after Nvidia announced plans to enter the Windows laptop market in direct competition with Intel and AMD, and SoftBank Group surged 11% on its stakes in OpenAI and Arm, putting the Japanese conglomerate on track to become the country’s most valuable listed company.
The atmosphere was complicated by oil. Brent crude climbed above $93 a barrel as efforts to reopen the Strait of Hormuz showed little progress and tensions in the Middle East remained high, sending Treasuries lower across the curve.
Crypto has failed to keep up with the stock rally. Bitcoin fell 4.6% over the past seven days to $73,397, ether (ETH) lost the same 4.6% to $1,996, solana (SOL) lost 3.7% to $81.89 and TRON’s TRX lost 3.7%, according to CoinDesk data. slipped 1.6%.
Spot Bitcoin ETFs in the United States recorded a tenth consecutive day of outflows on Friday, with $2.97 billion drained between May 15 and 29, according to SoSoValue data. This streak broke the previous record of eight consecutive release sessions set in early 2025 and was marked by a single-day release of $733 million on May 27, the largest since January.
The total net assets of US spot Bitcoin ETFs increased from $104.29 billion on May 15 to $94.17 billion on Friday. Ether ETFs are experiencing an even longer 14-session outflow streak, with approximately $2.6 billion drained from their net assets during the same window.
Hyperliquid’s HYPE was the only outlier in the top 10 in terms of market value.
The token has gained 18.7% over the past seven days to $73.17 and the HYPE US Spot ETF, launched on May 12, has seen inflows in every trading session since, pushing cumulative net assets above $122 million as of Friday.
Crude’s rebound above $93 and the stalled Iran deal mean the macroeconomic boost crypto has been waiting for is obviously no longer to come. The ETF flows that fueled last year’s rally have been trending in the opposite direction for ten straight sessions.
