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Bitcoin Spot ETF Outflows Near $3B Drive BTC Below $62K in 10 Days, Wintermute Warns Bottom Unclear

GateNews
Capital FlowStocksMarket AnalysisOn-Chain Data
BTC2.41%
According to Wintermute, U.S. spot Bitcoin ETFs recorded $2.97 billion in redemptions from May 15 through May 29, driving Bitcoin below $62,000 over the 10-day period. The market maker said the outflow streak, the longest since ETF launch, signaled weakening institutional demand rather than being driven by Strategy's 32 BTC sale. Wintermute noted that U.S. institutions turned bearish amid broader macro pressure, including a stronger-than-expected jobs report that pushed Treasury yields higher. While the firm said some long-term investors have begun accumulating near current levels, it stopped short of calling a bottom, citing the absence of clear signs of fresh inflows needed to confirm a durable recovery.
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