Bitcoin weakens near $72K as ETF outflows, stalled whale buying and macro uncertainty weigh on prices: analysts
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Bitcoin was trading near $72,000 on Monday as a third consecutive week of heavy institutional outflows and deteriorating onchain demand left the market without a near-term cushion.
Key facts
While bitcoin and ether (ETH) products bled, XRP (XRP) funds drew $15.2 million, Solana (SOL) funds $2.4 million, and Hyperliquid (HYPE) funds $26 million over the same stretch
U.S. spot bitcoin (BTC) exchange-traded funds shed $1.42 billion in the week of May 25–29, the third-highest weekly outflow on record for that product segment, Timothy Misir, head of research at BRN
Onchain, roughly 8.33 million BTC are now held at a loss after prices contracted toward current levels, up from 7.75 million BTC when bitcoin was trading near $76,600 a week earlier, Misir wrote
The Laser Digital derivatives desk attributed recent sell-offs partly to the absence of Strategy as a buyer, as the firm made no BTC purchases between May 18 and May 24, subsequently confirming it
Summary
U.S. spot bitcoin (BTC) exchange-traded funds shed $1.42 billion in the week of May 25–29, the third-highest weekly outflow on record for that product segment, Timothy Misir, head of research at BRN, said in a note shared with The Block. Global crypto ETFs also recorded $1.67 billion in outflows over the same period, the second-largest weekly redemption of 2026 behind only the week ending Jan. 23, per CoinShares. The pattern beneath the surface is what analysts are watching most closely, and BRN's Misir said the ETF flow split tells the more important story. While bitcoin and ether (ETH) products bled, XRP (XRP) funds drew $15.2 million, Solana (SOL) funds $2.4 million, and Hyperliquid (HYPE) funds $26 million over the same stretch.