Bitcoin slides 14% as ETF outflows extend to 10 days
Bitcoin fell below sixty-four thousand dollars on Wednesday, capping a fourteen percent slide over the past week and pulling Ether down twelve percent to roughly one thousand eight hundred and eighty dollars, while US spot Bitcoin ETFs recorded their tenth consecutive day of net outflows totaling nearly three billion dollars.
The pullback is driven by stickier-than-expected US inflation data, fading expectations of a near-term Federal Reserve rate cut, renewed dollar strength, and an escalation in US-Iran tensions that has pushed capital back into traditional safe-haven assets. Bitcoin's reaction has been sharper than gold's because the asset is still treated by short-term traders as a leverage instrument on global liquidity, and tighter-for-longer monetary policy is the most direct way to drain that liquidity from risk markets.
The drop is large but it sits inside a longer uptrend, not a structural break. Bitcoin remains up more than thirty percent over the past twelve months, futures positioning is mildly bullish, and open interest data suggests large holders are sitting rather than unwinding. The sustained ETF outflows are the most worrying signal because they represent the buyer base that drove this cycle, but ten days is short by historical standards and previous streaks have reversed inside two weeks.
The market also absorbed weekend rumors of a large corporate holder rotating part of its Bitcoin position for the first time in roughly four years, which added a sentiment shock on top of the macro pressure. Whether that turns into a confirmed sale or stays a rumor will likely set the tone for the rest of June.
