Crypto ETFs Bleed $4.4B in 13 Sessions, Only HYPE in Green

US spot crypto ETFs extended their record outflow streak to 13 consecutive sessions, with total redemptions reaching $4.37 billion since mid-May. Only Hyperliquid's spot HYPE ETF remained in positive territory, pulling in net new money. On Wednesday alone, bitcoin ETFs bled another $396.60 million, led by BlackRock's IBIT which saw $342.34 million in redemptions. Fidelity's FBTC lost $54.26 million. Ether, Solana and XRP products also joined the redemption wave, reflecting broad-based risk aversion across digital assets. Bitcoin traded around $65,462, down from above $71,000 at the start of the week. For the latest real-time prices on BTC, ETH and other major tokens, traders can check NowPrice's crypto quotes.

The persistent outflows underscore a shift in sentiment as traders rotate out of crypto exposure amid macroeconomic uncertainty and a stronger US dollar. The 13-day drain, the longest on record, suggests institutional investors are reducing risk ahead of key data releases. This risk-off move aligns with a rising US dollar index (DXY) and higher US Treasury yields, which historically pressure speculative assets like crypto. Additionally, the bitcoin halving cycle—which historically reduces miner revenue and can lead to selling pressure—may be amplifying the outflow trend. Miner break-even economics are under scrutiny as hashprice declines, while on-chain data shows whale concentration increasing, suggesting large holders are accumulating while retail exits. BTC dominance has edged higher, indicating capital is rotating from altcoins into bitcoin, but even bitcoin is not immune to the broader ETF exodus. Exchange reserve drawdowns, often a bullish signal, have stalled, hinting that the supply squeeze narrative is losing momentum.

Market participants will watch for any reversal in ETF flows as a signal of renewed demand, with bitcoin's price action likely to remain sensitive to further redemption data. Key levels to monitor include bitcoin's ability to hold above $65,000, as a break lower could accelerate outflows. The correlation between crypto and traditional macro factors—such as Fed policy expectations and DXY strength—will be critical. If ETF outflows persist, the market may test lower support zones, but a sudden inflow reversal, possibly triggered by a dovish Fed pivot or a positive regulatory development, could spark a sharp recovery. Traders should also track on-chain metrics like whale wallet activity and miner selling behavior for early signs of a trend change.