U.S. Bitcoin ETFs see $1.72B outflows amid market risk repricing, Bitcoin nears $64K on ceasefire news
U.S. spot Bitcoin ETFs recorded $1.72 billion in net redemptions for the week ending June 5, marking the fourth straight week of billion-dollar outflows. BlackRock's iShares Bitcoin Trust led withdrawals with $1.34 billion, driven by institutional investors reducing risk amid stronger US economic data and rising Treasury yields. Ethereum ETFs also saw $173 million in outflows, while some crypto ETFs like HYPE and XRP had modest inflows. Market analyst Ted Pillows warns Bitcoin could dip to $50,000 before rallying past $100,000. Bitcoin's price rebounded toward $64,000 following President Trump's announcement of an Israel-Iran ceasefire, easing geopolitical tensions that had earlier pressured the market.
U.S. spot Bitcoin ETFs recorded $1.72 billion in net redemptions for the week ending June 5, marking the fourth straight week of billion-dollar outflows. BlackRock's iShares Bitcoin Trust led withdrawals with $1.34 billion, driven by institutional investors reducing risk amid stronger US economic data and rising Treasury yields. Ethereum ETFs also saw $173 million in outflows, while some crypto ETFs like HYPE and XRP had modest inflows. Market analyst Ted Pillows warns Bitcoin could dip to $50,000 before rallying past $100,000. Bitcoin's price rebounded toward $64,000 following President Trump's announcement of an Israel-Iran ceasefire, easing geopolitical tensions that had earlier pressured the market.
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