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▲ Bitcoin (BTC) decline/AI-generated image
While approximately $3 billion has evaporated from Bitcoin (BTC) spot ETFs due to 10 consecutive trading days of outflows, Santiment pointed out that extreme fear could, in fact, be a signal of approaching a bottom.
According to cryptocurrency media outlet Cointelegraph on May 30 (local time), Bitcoin spot ETFs recorded net outflows for 10 consecutive trading days since May 7, with cumulative net sales exceeding $2.97 billion. This trend is a record outflow streak that one analyst assessed could mean the market bottom is near.
According to SoSoValue data, daily outflows during this period ranged from $70 million to $733 million. The largest single-day outflow was $733.43 million recorded on Wednesday. The total net assets of Bitcoin spot ETFs decreased from $104.29 billion on May 15 to $94.17 billion as of Friday, a reduction of approximately $10 billion in two weeks.
This 10-consecutive-day outflow surpassed the record of 8 consecutive days of outflows recorded in early last year. At that time, the outflow amounted to $3.2 billion. Since their launch in the US, Bitcoin spot ETFs have become a key indicator for gauging institutional demand, with large inflows signaling improved investor sentiment and increased demand, and large outflows indicating fear and risk-off movements.
Crypto analytics firm Santiment Intelligence interpreted this outflow trend as a signal of 'peak fear' in the market. Santiment stated in an X (formerly Twitter) post, "History has shown that extreme ETF outflows have generally worked well as a contrarian indicator, as prices move contrary to traders' expectations." Santiment further explained that the phenomenon of a large amount of capital flowing out of Bitcoin ETFs in a short period reflects investors' peak fear, frustration, and risk aversion.
Santiment noted that a single-day outflow of $904 million recorded in November 2025 occurred near a major market bottom, after which prices recovered. The company advised, "Consider large capital outflows as a signal that we are approaching a local bottom that some patient investors have been waiting for."
Ethereum (ETH) spot ETFs also did not escape the widespread selling pressure. Ethereum spot ETFs recorded 14 consecutive trading days of outflows from May 11 to Friday, with daily redemption volumes ranging from $5.65 million to $130.62 million. In contrast, Hyperliquid (HYPE) spot ETF has recorded inflows every trading day since its launch on May 12, with cumulative net inflows exceeding $100 million on May 28.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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