Bitcoin ETF experiences nine consecutive days of net outflows, setting a record.

This is not just a simple correction, but institutional funds are re-pricing risk.
On May 29th, the US spot Bitcoin ETF faced the longest streak of net outflows, with Bitcoin underperforming traditional risk assets.
Meanwhile, Dell surged nearly 40% pre-market, with a clear capital inflow effect related to AI assets.
Funds are being diverted. AI capital expenditure creates a liquidity black hole, insensitive to interest rates, weakening the suppressive effect of high interest rates on demand.
Core PCE rose to 3.3%, with inflation stickiness exceeding expectations, and expectations for rate cuts continue to decline.
Institutions are not pessimistic about Bitcoin; they are prioritizing retreat amid macro uncertainties.
ETF outflows are a result, not the cause.
The real risk is: if the AI narrative continues to siphon funds, the structural fragility of the crypto market will be exposed—liquidity stratification, demand structure changes, leverage liquidation risks.
Contrary signal: after continuous outflows, market sentiment has become extremely pessimistic, with options PCR slightly defensive and IV at low levels.
Historically, extreme outflows are often followed by a phased rebound.
But this time, the structure is different; don’t simply chase the bottom.
$btc #defi #etf #链上数据 #ai