Key HighlightsU.S. spot Bitcoin ETFs registered $1.72 billion in net redemptions during the week concluding June 5This marks the fourth consecutive week of outflows, representing over a month of sustained billion-dollar withdrawalsBlackRock’s IBIT dominated the exodus with $1.34 billion in redemptions, with Fidelity and Grayscale following behindMarket observer Ted Pillows anticipates a potential decline to $50,000 before an eventual surge past $100,000Bitcoin price recovered toward $64,000 following President Trump’s announcement of an Israel-Iran ceasefire agreementU.S. spot Bitcoin exchange-traded funds have extended their redemption pattern into a fourth consecutive week, recording $1.72 billion in net withdrawals for the period ending June 5, based on figures from SoSoValue.Source: SoSoValueThis withdrawal pattern began during the week concluding May 15. Every subsequent week has witnessed more than $1 billion departing these investment vehicles.The most intense selling pressure materialized during June’s opening three trading sessions. Funds experienced losses of $483.8 million, $519.1 million, and $396.6 million across those consecutive days. Thursday provided a momentary respite with $3.2 million in inflows before Friday delivered another $325.7 million in withdrawals.Bitcoin (BTC) PriceBlackRock’s iShares Bitcoin Trust ETF (IBIT) dominated the redemption activity, representing $1.34 billion of the week’s aggregate outflows. Fidelity’s Wise Origin Bitcoin Fund (FBTC) experienced $201.9 million in withdrawals, while Grayscale’s Bitcoin Trust ETF (GBTC) recorded $144.3 million in exits.Matthew Pinnock, Chief Operating Officer at Altura DeFi, characterized the selling wave as a “macro-driven repricing of risk” unrelated to Bitcoin-specific fundamentals. He explained that IBIT experiences the highest outflows due to its substantial size and liquidity profile, noting that institutional investors gravitate toward the most liquid instruments when reducing risk exposure.“The timing of these redemptions aligns closely with stronger-than-expected US employment data, rising Treasury yields, and a sharp reduction in rate cut expectations,” Pinnock stated. He emphasized that Bitcoin’s recent price weakness stems from shifting rate expectations and evolving institutional risk appetite.Ethereum ETFs Mirror Withdrawal TrendSpot Ethereum ETFs exhibited comparable patterns, documenting $173.05 million in redemptions for the week ending June 5, continuing their own four-week outflow sequence. Ether ETFs have collectively shed approximately $885.6 million throughout this four-week period.However, not every cryptocurrency ETF product experienced redemptions. HYPE ETFs attracted $16.65 million during the week. XRP ETFs recorded modest inflows of $2.62 million. Solana ETFs registered $6.52 million in outflows.Cryptocurrency analyst Ted (@TedPillows) observed on X that Bitcoin has formed two lower highs in this market cycle, contrasted with three in the preceding cycle. He cautioned that a third lower high might emerge in Q3, potentially followed by a correction to $50,000. His projection then anticipates a rally exceeding $100,000 following that trough.Except for the peak, $BTC had 3 lower highs last cycle.So far, we have seen only 2 while the bottom is still not in based on the 4-year cycle.A bottom scenario could be another lower high by Q3 followed by a dump to $50,000.After that, BTC will most likely pump above… https://t.co/Xolr7qgNFH pic.twitter.com/s357ELI6bj— Ted (@TedPillows) June 8, 2026Bitcoin Price Rallies Approaching $64KOn June 8, Bitcoin advanced back toward $64,000 after President Trump announced via Truth Social that Israel and Iran were pursuing an “immediate ceasefire.” BTC touched $63,715, representing a 3.25% daily gain.“Both sides, Israel and Iran, are looking to do an immediate CEASEFIRE! Final negotiations on “Peace” are proceeding, subject to ignorance or stupidity getting in its way…” – President DONALD J. TRUMP pic.twitter.com/zLoFSZo3jZ— The White House (@WhiteHouse) June 8, 2026The cryptocurrency had declined earlier following Iran’s retaliatory military strikes targeting Israeli military installations, which came after Israeli operations against Hezbollah-affiliated sites in Beirut. Iranian authorities subsequently announced their joint military command had suspended offensive operations.Trump clarified that a blockade would persist until a comprehensive agreement is finalized, though he indicated diplomatic negotiations were already progressing.Bitcoin traded at $63,715 according to the most recent available information, rebounding from geopolitical-induced declines earlier in the trading session.The post Bitcoin (BTC) ETFs Bleed $1.7 Billion as Four-Week Outflow Streak Continues appeared first on Blockonomi.