Bitcoin is falling while everything else hits records — ride the selling pressure down
Investors have pulled $2.8 billion out of Bitcoin ETFs over nine straight days — the longest selling streak since the funds launched. Bitcoin has fallen to April lows near $74,000 even as regular stock markets keep hitting record highs.
Idea
Bitcoin is doing the one thing it shouldn't be doing: falling while everything else rallies. The S&P 500 is notching all-time highs, yet Bitcoin has slid to its lowest level since April. The sell-off is being driven by real institutional selling — $2.8 billion has been pulled from Bitcoin ETFs over nine straight days, a record streak. A massive $9 billion options expiry is also looming, which tends to keep downward pressure on the price as traders hedge. When big money keeps exiting for over a week and the price can't bounce even in a risk-on environment, the selling momentum likely has further to run.