Bitcoin ETFs Bleed Billions as BTC Retests 2024 Lows
Bitcoin's spot ETF market logged another week of heavy institutional withdrawals, as the cryptocurrency's price slid back to levels last seen in 2024.
The outflow streak has now extended for seven consecutive weeks, among the longest stretches of sustained selling since the funds launched.
What the Outflow Data Actually Shows
U.S. spot Bitcoin ETFs continued shedding capital this week, according to data from SosoValue, a tracking service that several crypto outlets, including CryptoPotato, cited in reporting the latest figures.
Independent tracking of the same SosoValue data shows a more complex picture than a single record-breaking week. Bitcoin ETFs logged a 13-day stretch of outflows in early June totaling roughly $4.37 billion, according to TFTC's analysis of the year's flow data, before briefly turning positive on June 5. A separate, later week saw a much smaller $226.8 million in net outflows, suggesting the pace of withdrawals has been uneven rather than accelerating in a straight line.
Combined across the year's two major outflow streaks, an estimated $7.2 billion has drained from the products, pushing 2026 year-to-date flows into negative territory for the first time since the ETFs launched in January 2024 — a milestone confirmed by Bloomberg ETF analyst Eric Balchunas.
📰 Related: Strategy Stock Falls Below $100 for First Time Since 2024
A Note on the Numbers Behind This Week's Headlines
Some outlets have reported a specific $1.79 billion figure for the most recent single week, describing it as the worst week for Bitcoin ETFs since launch.
TheTrendsWire was unable to independently verify that exact figure against SosoValue's own published data at the time of writing, and other recent weekly totals tracked by multiple outlets — including the $226.8 million figure for the week ending June 18 — are substantially smaller. Given that discrepancy, this article focuses on the broader trend, which is independently and consistently confirmed: persistent weekly outflows, a multi-month negative streak, and 2026 year-to-date flows turning negative for the first time.
📰 Related: Ethereum Hits 14-Month Low as USDT Briefly Overtakes It
Why Bitcoin's Price Followed the Outflows Down
The price action accompanying these withdrawals has been just as significant as the outflow figures themselves.
Bitcoin dipped to an intraday low near $58,000-$59,000 in recent sessions, according to Investing.com's market coverage, a level that puts the asset back in territory last seen in 2024 and reflects a substantial decline from earlier 2026 highs.
The drop coincided with a separate, related event: Strategy's disclosed sale of 32 Bitcoin in late May to help fund dividend payments on its preferred stock — the company's first BTC sale since it began accumulating the asset, which added further pressure to an already weak market.
What Analysts Say Is Actually Driving This
The selling pressure appears to be only partly about Bitcoin itself, according to analysts tracking the broader capital rotation.
Jeff Mei, COO of BTSE, told Crypto Economy that the rotation away from Bitcoin ETFs reflects investor attention shifting toward other parts of the market, specifically pointing to the SpaceX IPO and intense focus on AI companies like OpenAI and Anthropic that have yet to go public. Mei framed this as capital being reallocated toward the hottest corner of the market rather than fleeing crypto outright.
Other macro factors cited across multiple analyses include a reaccelerating U.S. CPI print in May, the Federal Reserve holding rates steady, S&P 500 strength drawing capital into AI and semiconductor stocks, and broader risk-off sentiment tied to geopolitical tensions.
What Happens If the Pattern Holds
Some analysts see early signs the selling pressure may be easing, even if it hasn't reversed.
The drop from $1.72 billion in outflows during the first week of June to roughly $226 million in a more recent week represents a meaningful deceleration, even though the overall trend remains negative.
Others remain cautious. Paul Howard, senior director at Wincent, told Sherwood News there's still room for Bitcoin to fall further, with some traders eyeing a potential entry point around $50,000 — a level that would represent a roughly 60% drawdown from Bitcoin's highs, comparable to past four-year cycle bottoms.
Key Takeaways
- Bitcoin ETFs have logged outflows for seven consecutive weeks, among the longest streaks since launch in January 2024.
- Combined 2026 outflow streaks total an estimated $7.2 billion, pushing year-to-date flows negative for the first time.
- Bitcoin's price fell to roughly $58,000-$59,000, a level last seen in 2024.
- A specific $1.79 billion single-week figure reported by some outlets could not be independently verified against publicly tracked SosoValue data at the time of writing.
- Analysts cite capital rotation toward AI and IPO markets, not just Bitcoin-specific weakness, as a key driver.
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Financial Markets Reporter
Tom Bennett covers cryptocurrency, stocks, and macroeconomic trends. With a background in economics, he delivers sharp analysis on the stories moving markets.
