Bitcoin extended its downward trajectory as spot ETF outflows reached a historic 10-session streak totaling $2.97 billion, occurring alongside surging oil prices driven by stalled U.S.-Iran ceasefire negotiations. This macro pressure kept BTC at $73,854.62 and weighed on the broader crypto market, even as Wall Street's artificial intelligence trade propelled global equities to record highs during Asian trading on Monday. The MSCI All Country World Index advanced 0.2%, while Asian equities rose 1.1% to an all-time high, with technology bellwethers in South Korea, Taiwan, and Japan setting new benchmarks. Nasdaq 100 futures climbed 0.6% following Nvidia's announcement to enter the Windows laptop market, directly challenging Intel and AMD, while SoftBank Group surged up to 11% on its OpenAI and Arm holdings, positioning the Japanese conglomerate to become the nation's most valuable listed company.

The equity rally failed to transmit to digital assets due to concurrent geopolitical friction. Brent crude climbed above $93 per barrel as efforts to reopen the Strait of Hormuz showed minimal progress, keeping Middle East tensions elevated and sending Treasuries lower across the yield curve. Crypto markets decoupled from the stock surge, with Bitcoin falling 4.6% over the past seven days to $73,397. Ether (ETH) mirrored this decline, dropping the same 4.6% to $1,996, while Solana's SOL slipped 3.7% to $81.89 and TRON's TRX fell 3.7%. Data compiled by Woofun AI shows DOGE also retreated 1.6% to $0.1001 during this period of broad-based weakness.

The outflow dynamic in U.S. spot bitcoin ETFs intensified on Friday, marking the tenth consecutive day of net redemptions. Between May 15 and May 29, $2.97 billion was drained from these funds, a figure that shattered the previous record of eight consecutive outflow sessions established in early 2025. The streak was punctuated by a massive $733 million single-day exit on May 27, representing the largest daily outflow since January. Consequently, total net assets across U.S. spot bitcoin ETFs contracted from $104.29 billion on May 15 to $94.17 billion by Friday. Ether ETFs exhibited even more persistent selling pressure, running a 14-session outflow streak with approximately $2.6 billion removed from net assets over the same window.

Hyperliquid's HYPE emerged as the sole outlier among the top 10 tokens by market value, defying the prevailing bearish sentiment. The token appreciated 18.7% over the past seven days to reach $73.17. This performance was underpinned by the U.S. spot HYPE ETF, which launched on May 12 and has recorded inflows in every single trading session since its inception. By Friday, cumulative net assets for the HYPE ETF had surpassed $122 million, highlighting a distinct divergence in investor behavior compared to the broader market. Woofun AI notes that this sustained accumulation suggests a specific institutional appetite for newer DeFi-centric exposure despite the macro headwinds affecting legacy assets.

The resurgence of crude oil above $93 and the lack of progress on the Iran deal indicate that the macroeconomic relief crypto markets anticipated is no longer imminent. The ETF flows that fueled last year's rally have reversed direction for ten straight sessions, creating a significant liquidity drain. With geopolitical risks remaining elevated and traditional risk-on assets like equities failing to provide a spillover effect, the immediate outlook for Bitcoin and Ether remains constrained by these persistent outflows and external commodity pressures.