Wall Street fleeing Bitcoin ETFs for a record nine days, $9B options expiry adding pressure — bet against the crypto dump
Investors have been yanking money out of Bitcoin ETFs for nine straight days — nearly $2.8 billion total — the longest withdrawal streak ever. At the same time, a massive $9 billion wave of Bitcoin options contracts is expiring, which traders say favors the bears.
Idea
Bitcoin is behaving very differently from the stock market right now — stocks are near all-time highs while Bitcoin has slid to its lowest level since April. That's a red flag because the two usually move together during healthy risk-on periods. On top of that, Wall Street's Bitcoin ETFs have suffered nine consecutive days of withdrawals totaling $2.8 billion, meaning institutional money is heading for the exits. A $9 billion options expiry is also pressing prices down, with bearish traders holding the advantage. Until the ETF bleeding stops and Bitcoin reclaims the $74,000 level, the path of least resistance is lower.