Bitcoin crashes to $74,300 as spot ETFs hemorrhage $2.26B in two weeks!

Bitcoin dropped to $74,305 early Saturday — its lowest print since April 20 — as surging U.S. Treasury yields and parallel moves in global government bond markets drained appetite for zero-yield risk assets. The move puts BTC more than 10% below its May 6 high of $82,500, with the 24-hour decline running at roughly 3%.

The ETF channel is flashing a clear warning: U.S.-listed spot bitcoin funds shed $1.26 billion this week alone, the largest single-week outflow since January, following approximately $1 billion in redemptions the prior week. The two-week total now stands at $2.26 billion — a structural reversal from the inflow streak that defined Q1.

Speculative capital appears to be rotating rather than simply sitting out. Commodities with direct exposure to Strait of Hormuz supply-disruption risk — oil, copper, sulfur — are attracting strong flows.