BlackRocks spot Bitcoin ETF is once again under pressure after investors withdrew hundreds of millions of dollars during a broader cryptocurrency market decline. The recent sell-off highlights growing caution among institutional investors as Bitcoin and Ethereum prices continue to struggle with volatility.
U.S. spot Bitcoin ETFs recorded a volatile week of flows between May 11 and May 15, with strong midweek selling pressure outweighing brief rebounds as institutional sentiment weakened alongside the broader crypto market.
Bitcoin hit $79,500 on Monday during European trading hours. Just like that, the $80,000 floor cracked.
Analysts weigh Bitcoin's outlook as inflation pressures build.
Bitcoin price tests key support after rejection near $82K, with BTC watching $74,917 and $71K levels.
Michael Saylor's bitcoin acquisition company Strategy has confirmed it could be about to sell some of its $63 billion worth of bitcoin
According to data from Arkham Intelligence, clients of BlackRock's IBIT ETF collectively sold around $317.1 million worth of Bitcoin this week, triggering fresh outflows from addresses associated with the fund.
Santiment warned that Bitcoin social media euphoria spiked following the CLARITY Act's Senate Banking Committee vote on May 14.
Crypto prices face a sharp downturn after a brief Friday pump. Bitcoin hovers at 78k, threatening a deeper crash if macro support breaks.
The cryptocurrency market slid on Friday as both major assets and top altcoins traded lower, while spot and derivatives activity cooled—an alignment that typically signals weakening risk appetite and a more cautious investor stance. According to TokenPost Market data, Bitcoin (BTC) was trading at $79,086.16 as of 03:05 UTC on May 16 (down 2.69% over the past day).
Strategy agreed on May 15 to repurchase roughly $1.5 billion principal of its 2029 convertible notes for an estimated $1.38 billion in cash. The firm told investors in its Form 8-K that it may fund the repurchase with available cash reserves, ATM securities-sale proceeds, and/or proceeds from the sale of Bitcoin.
Analysts were cautious of Bitcoin and crypto's next move amid sticky inflation.