Bitcoin underperforms risk assets as record 9th day of ETF outflows signal waning demand

60-second summary

Bitcoin is underperforming risk assets as record 9th day of ETF outflows signals waning demand, with $34 million exiting funds on May 28, 2026, bringing total outflows to $304 million in May. This decline in institutional investment is weighing on the market, causing Bitcoin's price to drop below $27,500, raising concerns about its long-term sustainability.