A 10-session record, $2.97 billion outflow streak from spot bitcoin ETFs and a fresh surge in oil prices on halting US-Iran ceasefire talks have kept bitcoin and the broader crypto market under pressure, even as Wall Street’s AI trade pushed global stocks to new records in Asian trade on Monday.
The MSCI All Country World index rose 0.2% on Monday and Asian shares rose 1.1% to a record high, with bellwether technology indexes in South Korea, Taiwan and Japan all setting records, Bloomberg reported.
Nasdaq 100 futures rose 0.6% after Nvidia said it would enter the Windows laptop market in direct competition with Intel and AMD, and SoftBank Group jumped as much as 11% in its OpenAI and Arm holdings, putting the Japanese conglomerate on track to become the country’s most valuable publicly traded company.
The mood was complicated by oil. Brent oil rose to over USD 93 per barrel as efforts to reopen the Strait of Hormuz showed little progress and tensions in the Middle East remained high, sending government bonds lower across the curve.
Crypto failed to track the stock rally. Bitcoin fell 4.6% over the past seven days to $73,397, ether (ETH) lost the same 4.6% to $1,996, solana (SOL) 3.7% to $81.89 and TRON’s TRX 3.7%, according to CoinDesk data. fell 1.6 per cent
Spot bitcoin ETFs in the US recorded a tenth straight day of outflows on Friday, with $2.97 billion drained between May 15 and May 29, according to SoSoValue data. The streak broke the previous record of eight consecutive outflow sessions set in early 2025 and was headlined by a $733 million one-day exit on May 27, the largest since January.
Total net assets across U.S. spot bitcoin ETFs fell from $104.29 billion on May 15 to $94.17 billion on Friday. Ether ETFs are riding an even longer 14-session outflow streak, with about $2.6 billion drained from net assets over the same window.
Hyperliquids HYPE was the only outlier in the top 10 by market capitalization.
The token rose 18.7% over the past seven days to $73.17, and the US spot HYPE ETF, launched on May 12, has logged inflows in every trading session since, lifting cumulative net assets above $122 million as of Friday.
Crude’s rise above $93 and the stalled Iran deal mean the macro lift crypto is no longer clearly forthcoming. The ETF flows that drove last year’s rally have gone the other way for ten straight sessions.
