$414M Outflow from Crypto Products: BTC Technical Analysis

Last week, there was a $414 million outflow from crypto investment products, marking the first weekly decline in the last five weeks. Investors are acting cautiously due to rising inflation risks and tensions in the Middle East, while expectations for the US Federal Open Market Committee’s (FOMC) June meeting have shifted from rate cuts to rate hikes. According to CoinShares’ Monday report, total assets under management fell to $129 billion, returning to early February levels. BTC is currently trading at 67.451,60$ (+1,53% 24h), with RSI at 44,83 signaling a downtrend.

Weekly asset flows. Source: CoinShares

Reasons for Outflows in BTC and ETH

Ether (ETH) lost the most among major assets with a $222 million outflow and is in the weakest position with a net $273 million loss year-to-date. Although Bitcoin (BTC) experienced a $194 million outflow, it has $964 million net inflows year-to-date. Short-term Bitcoin products saw $4 million inflows. Solana (SOL) with $12,3 million and XRP with $15,8 million inflows stood out. These outflows align with macro uncertainties; BTC is trading below EMA 20 (69.020$) for detailed analysis.

Crypto product flows by assets. Source: CoinShares

Critical Support and Resistance Levels for BTC

• Supports: S1: 62.909$ (⭐ Strong, -6,82%), S2: 67.360$ (⭐ Strong, -0,23%)
• Resistances: R1: 68.985$ (⭐ Strong, +2,18%), R2: 74.486$ (⭐ Strong, +10,33%)
• Supertrend: Bearish, trend down.

Spot Bitcoin ETFs ended their four-week inflow streak with a $296 million outflow, while spot Ether ETFs lost $206,6 million for the second consecutive week. SOL and XRP inflows highlight opportunities in SOL futures.

Frequently Asked Questions About Crypto Outflows

Why did Bitcoin experience a weekly outflow?

FOMC rate hike expectations and geopolitical risks triggered BTC outflows, but YTD net positive.

Why are ETH ETFs losing?

ETH is the weakest with $222M weekly + $273M YTD outflow; macro pressures are effective.

What do SOL and XRP inflows mean?

Altcoin rotation signal; SOL $12,3M, XRP $15,8M inflows.