Bitcoin Enters ‘High-Risk Zone’ as ETF Outflows Signal Institutional Exit: Swissblock

U.S. spot Bitcoin ETFs have been a key source of institutional demand in the current market cycle, absorbing supply sold by miners, long-term holders and investors taking profits. Crypto analytics platform Swissblock uses a risk index to gauge buying and selling pressure. When ETF demand weakens, the risks of price declines and leveraged liquidations increase.

Swissblock said on May 26, 2026, that the risk index had risen to 33, entering the high-risk zone. U.S. spot Bitcoin ETFs had recorded net outflows on nearly every trading day since May 7, with withdrawals exceeding $2 billion over two weeks. The ETFs had absorbed just 4,500 Bitcoin on a net basis in 2026 and shifted from accumulation to selling in May. Bitcoin traded at about $75,808 on May 27.