Markets Diverge: Nasdaq Soars to Records While Bitcoin (BTC) ETFs Bleed $2.97B

TLDR

• Spot Bitcoin ETFs in the United States experienced an unprecedented 10-day withdrawal period, shedding $2.97 billion from May 15 through May 29
• Bitcoin dropped 4.6% across seven trading days, settling at $73,397; major altcoins including Ethereum, Solana, and Tron similarly retreated
• Equity markets reached unprecedented levels fueled by Nvidia’s expansion into portable computing and SoftBank’s artificial intelligence portfolio gains
• Crude oil surged past $93 per barrel as diplomatic negotiations with Iran stagnated and shipping route concerns intensified
• Hyperliquid’s HYPE token bucked the trend with an 18.7% weekly surge, supported by its newly launched ETF’s unbroken inflow streak

Digital assets faced significant headwinds throughout the previous week as spot Bitcoin exchange-traded funds in the United States logged their most extended withdrawal period ever documented. In stark contrast, traditional equity benchmarks climbed to fresh historical peaks, propelled by mounting enthusiasm surrounding artificial intelligence technologies.

The technology-heavy Nasdaq Composite advanced more than 8% during May. The benchmark S&P 500 appreciated approximately 5% across the month, while the blue-chip Dow Jones Industrial Average climbed nearly 3%. Futures contracts extended gains into Sunday evening trading, with Nasdaq 100 futures advancing 0.4%.

E-Mini S&P 500 Jun 26 (ES=F)

Nvidia revealed plans to penetrate the Windows laptop marketplace, establishing direct competition with Intel and AMD. The announcement contributed to upward momentum in Nasdaq futures. SoftBank shares surged as much as 11% on the strength of its OpenAI and Arm investments, positioning the company to potentially become Japan’s highest-valued publicly traded enterprise.

The MSCI All Country World Index appreciated 0.2% Monday. Asian equity markets climbed 1.1% to establish an all-time peak, with technology-focused indexes across South Korea, Taiwan, and Japan each posting record levels.

Bitcoin ETFs Experience Unprecedented Withdrawals

Spot Bitcoin exchange-traded funds in the United States registered their tenth consecutive trading day of withdrawals on Friday, May 29. Approximately $2.97 billion exited these investment vehicles from May 15 through May 29, surpassing the prior record of eight straight withdrawal sessions established earlier in 2025.

The most substantial single-day exodus occurred on May 27, when investors withdrew $733 million within 24 hours. This represented the largest one-day withdrawal since January.

Aggregate net holdings across U.S. spot Bitcoin ETFs contracted from $104.29 billion on May 15 to $94.17 billion by Friday’s close. Ether ETFs sustained an even more prolonged 14-session withdrawal streak, hemorrhaging approximately $2.6 billion throughout the identical timeframe.

Bitcoin declined 4.6% across the seven-day period, reaching $73,397. Ethereum experienced an identical 4.6% decrease to $1,996. Solana retreated 3.7% to $81.89, while Tron posted the same 3.7% loss. Dogecoin slipped 1.6%.

Bitcoin (BTC) Price

Crude Prices Advance Amid Diplomatic Impasse

Oil prices advanced as initiatives to restore passage through the Strait of Hormuz demonstrated minimal headway. Brent crude surpassed $93 per barrel. West Texas Intermediate appreciated 1.8% to approach $89 per barrel Sunday.

President Trump indicated he would convene with advisers to reach a “final determination” regarding Iran strategy, while demanding immediate restoration of Strait of Hormuz navigation. Notwithstanding the weekend rebound, WTI recorded its steepest monthly retreat since April 2025, plummeting nearly 17% throughout May.

The diplomatic stalemate with Iran and ascending oil valuations eliminated a prospective macroeconomic catalyst that cryptocurrency markets had been anticipating.

The singular exception within crypto markets was Hyperliquid’s HYPE token. It appreciated 18.7% across seven days to reach $73.17. The U.S. spot HYPE ETF, which commenced trading on May 12, has registered inflows during every individual trading session since inception, elevating cumulative net holdings above $122 million by Friday.

Market participants will now focus attention on Friday’s nonfarm payrolls release, which may influence expectations regarding Federal Reserve monetary policy adjustments in upcoming months.

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