Bitcoin (BTC) Price: $1.7B Leaves Bitcoin ETFs in One Week as BTC Bounces on Ceasefire News

TLDR

• Spot Bitcoin ETFs saw $1.72 billion in net outflows for the week ending June 5
• The outflow streak has now run four straight weeks, totaling over a month of billion-dollar redemptions
• BlackRock’s IBIT led withdrawals with $1.34 billion, followed by Fidelity and Grayscale
• Analyst Ted Pillows warns of a possible drop to $50,000 before a rally above $100,000
• Bitcoin rebounded near $64,000 after Trump announced an Israel-Iran ceasefire

Spot Bitcoin ETFs have now posted four straight weeks of net outflows, shedding $1.72 billion in the week ending June 5, according to SoSoValue data.

The streak dates back to the week ending May 15. Each week since has seen more than $1 billion exit the funds.

The pressure was heaviest in the first three trading days of June. The funds lost $483.8 million, $519.1 million and $396.6 million on those days respectively. There was a brief reversal of $3.2 million on Thursday before Friday brought another $325.7 million in outflows.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) was the biggest source of withdrawals, accounting for $1.34 billion of the week’s total. Fidelity’s Wise Origin Bitcoin Fund (FBTC) lost $201.9 million, and Grayscale’s Bitcoin Trust ETF (GBTC) shed $144.3 million.

Matthew Pinnock, COO of Altura DeFi, said the selling reflects “macro-driven repricing of risk” rather than Bitcoin-specific concerns. He said IBIT draws the most outflows because of its size and liquidity, and that large investors tend to use the most liquid products when pulling back on risk.

Ether ETFs Also Under Pressure

Spot Ether ETFs followed a similar pattern. They recorded $173.05 million in outflows for the week ending June 5, extending their own four-week redemption streak. Ether ETFs have shed roughly $885.6 million over those four weeks.

Not all altcoin ETF products saw outflows. HYPE ETFs pulled in $16.65 million for the week. XRP ETFs saw a small $2.62 million inflow. Solana ETFs posted $6.52 million in outflows.

Crypto analyst Ted (@TedPillows) posted on X that Bitcoin has so far made two lower highs in this cycle, compared to three in the previous one. He warned that a third lower high could come in Q3, followed by a drop to $50,000. He then projects a move above $100,000 after that bottom.

Bitcoin Bounces Near $64K

On June 8, Bitcoin climbed back toward $64,000 after President Trump posted on Truth Social that both Israel and Iran were seeking an “immediate ceasefire.” BTC reached $63,715, up 3.25% on the day.

The price had dipped earlier after Iran launched retaliatory strikes on Israeli military targets, following Israeli strikes on Hezbollah-linked facilities in Beirut. Iranian officials later confirmed their joint military command halted offensive action.

Trump confirmed that a blockade would remain in place until a final deal is reached, but said diplomatic talks were already moving forward.

Bitcoin was at $63,715 as of the latest available data, recovering from geopolitical-driven losses earlier in the session.

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