Crypto Retreats Amid ETF Outflows While Tech Stocks Rally

Bitcoin led a broad crypto selloff as U.S. spot ETFs bled $2.97 billion over 10 sessions through May 29, dragging BTC down 4.6% to $73,397. Ethereum, Solana (SOL), and Tron (TRX) mirrored the decline, contrasting sharply with record equity highs fueled by Nvidia's laptop market ambitions and SoftBank's AI bets.

Oil's surge past $93/barrel on Middle East tensions created macro headwinds, though Hyperliquid's HYPE token defied the trend with an 18.7% gain. The token's new ETF has attracted uninterrupted inflows since launch, showcasing lingering demand for crypto-structured products.

Tech equities absorbed capital that might have flowed into digital assets, with the Nasdaq jumping 8% in May as AI euphoria overpowered crypto's institutional outflow narrative. Market structure suggests traders are rotating into equities for beta exposure while treating crypto as tactical plays.