Bitcoin: Record ETF Outflows Hit $24B Amid Perps Shift

Bitcoin and Ethereum ETFs posted their worst month on record as BTC products saw a 13-day outflow streak that cut AUM from $104B to $80B and ETH funds lost roughly $712M over three weeks to leave AUM at $9.78B.

Spot demand weakness now shifts price discovery toward derivatives and funding rates, while the CFTC’s May 29 approval of regulated perpetual futures on Kalshi marks the largest structural unlock since spot ETFs, with BTC contracts already live and ETH set for June 4.

Tokenization rails continue to advance as Paxos gains clearance to place US stocks on-chain and Mastercard rolls out stablecoin settlement across eight networks handling $1.8B via BVNK.

Bitcoin trades at $61809.75 on the 4-hour chart beneath the EMA50 at $64411.05 in a bearish structure, yet the MACD registers a bullish golden cross at -436.75; price sits inside the Bollinger Bands with upper resistance at $64241.75 and lower support at $60753.32 while RSI(14) at 43.02 leaves room for a measured retracement to the 50-EMA before any continuation higher.