Bitcoin extends slide as spot ETF outflows hit a record while Wall Street rips on AI

A record 10-session, $2.97 billion outflow streak from spot Bitcoin ETFs and a fresh rally in oil prices on stalling U.S.-Iran ceasefire talks have kept Bitcoin and the wider crypto market under pressure even as Wall Street's AI trade pushed global equities to new records in Asian trading Monday.

The MSCI All Country World Index gained 0.2% on Monday and Asian equities advanced 1.1% to an all-time high, with bellwether tech 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% on its OpenAI and Arm holdings, putting the Japanese conglomerate on track to become the country's most valuable listed company.

The mood was complicated by oil. Brent crude climbed above $93 a barrel as efforts to reopen the Strait of Hormuz showed little progress and Middle East tensions stayed elevated, sending Treasuries lower across the curve.

Crypto failed to track the equity 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.

Spot bitcoin ETFs in the U.S. logged a tenth consecutive day of outflows on Friday, with $2.97 billion drained between May 15 and May 29, per SoSoValue data. The streak broke the previous record of eight consecutive outflow sessions set in early 2025, and was headlined by a $733 million single-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 by Friday. Ether ETFs are running an even longer 14-session outflow streak, with roughly $2.6 billion drained from net assets over the same window.

Hyperliquid's HYPE was the lone outlier in the top 10 by market value.

The token gained 18.7% over the past seven days to $73.17 and the U.S. spot HYPE ETF, which launched May 12, has logged inflows in every single trading session since, lifting cumulative net assets above $122 million by Friday.

Crude's bounce above $93 and the stalled Iran deal mean the macro lift crypto was waiting on is no longer obviously coming. The ETF flows that powered last year's rally have gone the other way for ten straight sessions.