As stocks raced to new highs in May, many bitcoin investors headed for the exits. In all, investors sold a net $2.4 billion from bitcoin spot exchange-traded products (ETPs) during the month, the largest monthly net outflow since November 2025 and the third largest since spot ETPs launched in early 2024, according to Glassnode data. Bitcoin ETP investors may have been lured away by equities, which went on a historic run during the month. Some of these investors may have also simply taken advantage of bitcoin's rally to exit at an intermediate-term high that roughly coincided with the average break-even point for ... (full story)