Bitcoin is disappointing.

Money continues to flow out of US spot Bitcoin ETFs as soaring oil prices fueled by geopolitical tensions, adding further pressure to the cryptocurrency market.

Bitcoin fell to its lowest level since mid-April. Photo: Decrypt .

According to CoinDesk , Bitcoin and much of the cryptocurrency market have continued to face pressure in recent days despite the strong rally in global stocks driven by a wave of investment in artificial intelligence (AI).

In Asian trading on June 1st, the MSCI All Country World Index rose 0.2%, while Asian stock markets gained 1.1% and set new record highs. Key technology indices in South Korea, Taiwan (China), and Japan also reached all-time highs.

Nasdaq 100 futures rose 0.6% after Nvidia announced plans to enter the Windows laptop market, directly competing with Intel and AMD. SoftBank Group shares also surged as much as 11% at one point thanks to the value of investments in OpenAI and Arm, bringing the conglomerate closer to becoming Japan's most valuable listed company.

However, positive sentiment in financial markets was overshadowed by developments in oil prices. Brent crude surpassed $93 per barrel as efforts to restore shipping through the Strait of Hormuz failed to make significant progress and tensions in the Middle East continued to escalate.

In that context, the cryptocurrency market cannot benefit from the stock market rally.

Over the past 7 days, Bitcoin has fallen 8% to $71,990 ; Ether has also lost 4.6%, dropping to $1,996 ; Solana has decreased 3.7% to $81.89 while Tron has fallen 3.7%.

Bitcoin falls below $72,000 . Photo: CoinMarketCap.

Selling pressure also came from capital outflows from US spot Bitcoin ETFs. According to data from SoSoValue, these funds recorded their 10th consecutive outflow session on May 30th.

From May 15th to May 29th, a total of $2.97 billion was withdrawn from spot Bitcoin ETFs. This is the longest streak of outflows since these products were introduced, surpassing the previous record of eight consecutive sessions recorded earlier in 2025.

Notably, May 27 alone recorded a net outflow of $733 million , the highest level since January of this year.

The total net assets of spot Bitcoin ETFs in the US decreased from $104.29 billion on May 15th to $94.17 billion at the end of last week.

A similar situation occurred with spot Ether ETFs. This group of funds experienced 14 consecutive outflows, with approximately $2.6 billion withdrawn from net assets during the same period.

Source: https://znews.vn/bitcoin-gay-that-vong-post1656079.html