Bitcoin's biggest ETF selloff yet hits $3.4 billion as AI stocks keep climbing
U.S. spot Bitcoin ETFs suffered 11 consecutive days of net outflows totaling $3.4 billion — the worst redemption streak since launch — as risk capital rotates into AI-driven equities. The setup is a continued near-term headwind for IBIT and FBTC, with whale accumulation at 2022 lows and no visible institutional bid to arrest the trend.
What happened
U.S. spot Bitcoin ETFs suffered 11 consecutive days of net outflows totaling $3.4 billion — the worst redemption streak since launch — as risk capital rotates into AI-driven equities.
The read · Jun 2
Short IBIT into continued ETF bleed — 11-session outflow streak, collapsing whale demand, and AI equity rotation all point to more downside before a floor forms.
Wrong if
A sudden macro risk-off shock (e.g., equity selloff) could flip Bitcoin to safe-haven-adjacent status and trigger a sharp reversal; any large sovereign or corporate BTC purchase announcement would invalidate the flow narrative immediately.
CoverageSource: CoinDesk · Published here TUE, JUN 2 · 2:47 AM ET · the only report in this recordHow this is decided →
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The story1 min read
The read, in fullWhy it matters
The 11-session outflow streak is the longest since spot Bitcoin ETFs launched in January 2024, and at $3.4B it represents a structural rotation — not noise. Benzinga's own reporting confirms whale accumulation has collapsed to 2022 bear-market levels, removing a key demand pillar that historically arrested corrections. With AI equities absorbing the risk-on bid and no macro catalyst (rate cut, ETF inflow reversal) on the near-term calendar, IBIT faces continued selling pressure with downside to the mid-$36 range as BTC tests the $72K zone.
The arc● Open · no developments yet
· Published
The read above, as written. kept as written
Next · what would move this
2-3 weeks. Follow to be told when one lands.
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