Bitcoin Lags Stocks Rally as ETF Outflows Cool Demand

Spot Bitcoin ETFs extended their outflow streak through May 28, with BlackRock’s IBIT recording a record single-day redemption of $527.8 million that pushed cumulative withdrawals past $1.8 billion since May 18. The sustained institutional exits, compounded by U.S.-Iran geopolitical risk-off flows and leveraged liquidations, drove Bitcoin below $73,000 after trading near $77,000 for most of the period. By May 30, BTC, ETH and altcoins trailed a nine-week S&P 500 rally as ETF demand cooled further, with capital rotating into selective altcoin products.