Crypto Outflows Hit $360M; IPO‑Style BTC Distribution

Global crypto investment products saw $360 million in net outflows last week, driven by $946 million exiting U.S. Bitcoin funds—including roughly $400 million from BlackRock’s IBIT—after investors digested Fed Chair Jerome Powell’s hawkish comments. Those outflows were partly offset by $421 million of inflows into Solana ETPs and modest flows into German and Swiss products, reflecting shifting demand toward new-chain ETFs. Institutional and on-chain behavior is mixed: Strategy (formerly MicroStrategy) added roughly 397 BTC (~$45.6 million) to its treasury, while long-dormant holders continue an IPO-style distribution into new long-term buyers rather than a panic selloff. Macro liquidity—large Fed repo injections—could temporarily support risk assets even as technical setups (pennant resistance near $134,000, support $105–108,000) and BTC’s lag versus gold and equities keep sentiment fragile. Forecasts diverge, with some investors warning of a 65–70% drawdown ahead while others point to ongoing institutional and sovereign custody development that may deepen market maturation, leaving the near-term outlook highly uncertain.