Bitcoin’s recent price collapse is not an isolated event. Beyond broader macroeconomic and on-chain pressures, exchange-traded funds (ETFs) that track Bitcoin experienced their largest weekly outflows since late January.
Data from SoSoValue indicates that May has turned negative after two consecutive weeks of substantial withdrawals.
Over $1.25B Withdrawn
Spot Bitcoin ETFs had been on an impressive streak that began the week ending April 2, with the following six weeks posting strong inflows. During that run, 10 of the 11 weeks recorded net inflows exceeding outflows.
That trend broke in the week ending May 15, when investors pulled roughly $1 billion from these funds. The situation deteriorated further over the past five trading days, with net outflows surging to $1.26 billion—the largest weekly exit since late January. As a result, cumulative net inflows have fallen to just over $57 billion, down from a recent local peak of $59.34 billion recorded a few weeks earlier.
Monday was the worst single day for withdrawals, totaling nearly $650 million. Tuesday saw about $331 million leave, Wednesday about $70 million, Thursday $101 million, and Friday $105 million. BlackRock’s IBIT suffered the largest individual fund outflows, losing $445 million on Monday, $325 million on Tuesday, $61.5 million on Wednesday, $104 million on Thursday, and $69 million on Friday.
Consequently, total inflows for May have swung negative, showing a net decline of around $1 billion.
Broader Price Weakness
Bitcoin’s price performance has mirrored the ETF outflows, turning negative for the month. After closing April with a strong 11.87% gain, Bitcoin entered May on a positive trajectory and quickly surged to a multi-month high near $83,000. That peak proved to be resistance: the price held above $80,000 for several weeks but broke down over the past weekend.
Since then, Bitcoin has failed to reclaim the $80,000 level and dropped further on Friday and into today, hitting a monthly low around $74,200. In addition to ETF outflows, the sell-off may reflect geopolitical uncertainty, the risk of further attacks, and other investors choosing to liquidate holdings.
Current CoinGlass data shows Bitcoin down more than 1% for May, trading below approximately $75,500 as it struggles to regain momentum.