Key Highlights
- Spot Bitcoin ETFs in the United States experienced an unprecedented 10-day withdrawal period, shedding $2.97 billion from May 15 through May 29
- Cryptocurrency values declined sharply: Bitcoin dropped 4.6% weekly to $73,397, with similar losses across Ethereum, Solana, and Tron
- Major equity indices achieved fresh records propelled by Nvidia’s strategic expansion and SoftBank’s artificial intelligence portfolio
- Crude oil surged past $93 per barrel following diplomatic impasse between Washington and Tehran, raising concerns over Strait of Hormuz disruptions
- Hyperliquid’s HYPE token bucked the trend with an impressive 18.7% weekly gain, supported by consistent ETF capital inflows since its May 12 debut
Digital currencies faced significant headwinds throughout the previous week as Bitcoin exchange-traded funds registered their most extended withdrawal sequence in history. Conversely, traditional equity markets celebrated milestone achievements fueled by growing enthusiasm surrounding artificial intelligence technologies.
The technology-heavy Nasdaq Composite index soared beyond 8% during May’s trading sessions. The broader S&P 500 benchmark appreciated approximately 5% monthly, while the blue-chip Dow Jones Industrial Average advanced nearly 3%. Momentum continued into Sunday evening trading, with Nasdaq 100 futures contracts climbing an additional 0.4%.
Nvidia unveiled plans to challenge Intel and AMD directly by launching its Windows laptop chip offerings. This strategic announcement contributed to extended gains in Nasdaq futures trading. Meanwhile, SoftBank’s shares jumped as much as 11% on the strength of its OpenAI and Arm investments, positioning the conglomerate to potentially become Japan’s highest-valued publicly traded enterprise.
The MSCI All Country World Index registered a 0.2% advance Monday. Asian equity markets climbed 1.1% to unprecedented levels, with technology-focused benchmarks across South Korea, Taiwan, and Japan all establishing new historical peaks.
Cryptocurrency ETFs Experience Unprecedented Capital Flight
American spot Bitcoin exchange-traded funds marked their tenth consecutive trading session of withdrawals on Friday, May 29. Between May 15 and May 29, these investment vehicles witnessed $2.97 billion in redemptions, surpassing the prior record of eight successive outflow days established earlier in 2025.
The most substantial single-day exodus occurred on May 27, when investors pulled $733 million from these funds. This represented the largest one-day withdrawal since January.
Combined net holdings across all U.S. spot Bitcoin ETFs contracted from $104.29 billion on May 15 to $94.17 billion by week’s end. Ethereum-focused ETFs experienced an even more prolonged 14-session redemption streak, hemorrhaging approximately $2.6 billion throughout the identical timeframe.
Bitcoin’s value declined 4.6% across the seven-day period, settling at $73,397. Ethereum mirrored this performance with an identical 4.6% decrease to $1,996. Solana contracted 3.7% to $81.89, with Tron posting matching losses of 3.7%. Dogecoin experienced a more modest 1.6% retreat.
Energy Markets Advance Amid Diplomatic Deadlock
Oil prices advanced as negotiations to restore access through the Strait of Hormuz remained stagnant. Brent crude benchmark exceeded $93 per barrel. West Texas Intermediate gained 1.8% to approach $89 per barrel during Sunday’s session.
President Trump indicated he would convene with advisers to reach a “final determination” regarding Iran policy, simultaneously demanding immediate restoration of Strait of Hormuz shipping lanes. Notwithstanding the weekend recovery, WTI recorded its steepest monthly contraction since April 2025, declining nearly 17% throughout May.
The diplomatic stalemate with Iran and corresponding energy price appreciation eliminated a prospective macroeconomic catalyst that cryptocurrency markets had been anticipating.
The singular positive development within digital assets came from Hyperliquid’s HYPE token. It surged 18.7% during the seven-day period to $73.17. The U.S. spot HYPE ETF, which commenced trading on May 12, has registered positive inflows throughout every trading session since inception, driving aggregate net assets beyond $122 million by Friday.
Market participants will now focus attention toward Friday’s employment situation report, which may significantly influence projections for Federal Reserve monetary policy adjustments in coming months.
