Wall Street ditching Bitcoin while stocks hit records — ride the crypto selloff lower
Investors have pulled $2.8 billion from Bitcoin ETFs over nine straight days of withdrawals — a record streak. Meanwhile, the stock market keeps hitting all-time highs, but Bitcoin has sunk back to April lows under $74,000.
Idea
There's an unusual split happening right now: the S&P 500 and Nasdaq are at record highs, yet Bitcoin keeps falling. That's a red flag. Normally, crypto and stocks move together when investors are feeling risky — but institutions are clearly rotating out of Bitcoin, pulling $2.8 billion from ETFs in nine consecutive days. A massive $9 billion options expiry is also looming, which tends to pin prices down and favor sellers. The failed breakout above $83,000 earlier this month and the drop to April lows near $72,000 suggest sellers are in control. With money flowing into AI and semiconductor stocks instead, the path of least resistance for Bitcoin appears to be lower.