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Bitcoin extends slide as spot ETF outflows hit a record while Wall Street rips on AI
U.S. spot bitcoin ETFs lost $2.97 billion across 10 trading days through Friday, the longest outflow streak on record. Oil’s bounce on the stalled Iran deal added pressure even as global equities hit new highs on the Nvidia and SoftBank AI trade.
Jun 1, 2026, 5:11 a.m. 2 min read
What to know:
- Global equities hit fresh records on the back of the AI trade, even as rising oil prices and Middle East tensions weighed on broader risk sentiment.
- Bitcoin and major cryptocurrencies declined over the past week amid a record 10-session, $2.97 billion outflow streak from U.S. spot bitcoin ETFs and sustained redemptions from ether funds.
- The lone bright spot in digital assets was Hyperliquid’s HYPE token and its new U.S. spot ETF, which have attracted steady inflows and outperformed the wider crypto market.
Nasdaq 100 futures rose 0.6% after Nvidia said it would enter the Windows laptop market in direct competition with Intel and AMD, and SoftBank Group jumped as much as 11% on its OpenAI and Arm holdings, putting the Japanese conglomerate on track to become the country’s most valuable listed company.
The mood was complicated by oil. Brent crude climbed above $93 a barrel as efforts to reopen the Strait of Hormuz showed little progress and Middle East tensions stayed elevated, sending Treasuries lower across the curve.
Crypto failed to track the equity 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) 3.7% to $81.89 and TRON’s TRX 3.7%, according to CoinDesk data. slipped 1.6%.
