Bitcoin ETFs Bleed $2.97B as Oil Rally Deepens Market Pressure

TLDR

• U.S. spot Bitcoin ETFs recorded ten straight sessions of outflows, with $2.97 billion withdrawn between May 15 and May 29.
• Bitcoin fell 4.6% over seven days as ETF demand weakened and Brent crude climbed above $93 per barrel.
• Global equities reached fresh records in Asian trading, but major crypto assets failed to follow the stock market rally.
• Hyperliquid’s HYPE gained 18.7% over the week as its U.S. spot ETF continued attracting daily inflows.

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Bitcoin has come under renewed pressure after U.S. spot Bitcoin ETFs recorded a 10-session outflow streak worth $2.97 billion.

According to SoSoValue data, U.S. spot Bitcoin ETFs posted withdrawals for ten straight trading sessions through Friday, May 29. The funds lost $2.97 billion between May 15 and May 29, breaking the previous eight-session outflow record set earlier in 2025.

Bitcoin ETFs Lose Nearly $3 Billion

SoSoValue data showed that the outflow run included a $733 million single-day exit on May 27. The figure was the largest daily withdrawal from spot Bitcoin ETFs since January.

Total net assets across U.S. spot Bitcoin ETFs dropped from $104.29 billion on May 15 to $94.17 billion by Friday. The withdrawals removed a major source of demand that helped support Bitcoin during earlier market rallies.

At the same time, spot Ether ETFs also faced heavy pressure. SoSoValue data showed Ether ETFs posted a 14-session outflow streak, with around $2.6 billion leaving net assets over the same period.

Oil Rally Adds Macro Pressure

According to Bloomberg, Brent crude rose above $93 a barrel as efforts to reopen the Strait of Hormuz made little progress. The report said U.S.-Iran ceasefire talks also stalled, keeping Middle East risks high.

Treasuries fell across the curve as oil prices moved higher, Bloomberg reported. The rise in crude added another macro concern for crypto traders already watching ETF withdrawals.

Bitcoin traded at $73,397 after falling 4.6% over seven days, according to CoinDesk data. Ether also lost 4.6% to $1,996, while Solana dropped 3.7% to $81.89. TRON’s TRX fell 3.7%, and Dogecoin slipped 1.6%.

Stocks Rally While Crypto Trails

Meanwhile, global equities moved higher despite the pressure in crypto markets. Bloomberg reported that the MSCI All Country World Index gained 0.2% on Monday. Asian equities rose 1.1% to an all-time high.

Technology shares led the advance in Asia, with indexes in South Korea, Taiwan, and Japan reaching records, according to Bloomberg. Nasdaq 100 futures also rose 0.6% after Nvidia said it would enter the Windows laptop market against Intel and AMD. SoftBank Group climbed as much as 11% on its OpenAI and Arm holdings, Bloomberg reported.

Hyperliquid’s HYPE stood apart from major crypto assets. According to ETF flow data cited in the report, the U.S. spot HYPE ETF has recorded inflows every trading day since its May 12 launch. Its cumulative net assets rose above $122 million by Friday.

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