Bitcoin Price Slides as IBIT Outflows Continue and Wall Street Backs Anthropic’s $65B Raise

Bitcoin (BTC) has fallen 5.42% over the past seven days, trading near $73,693 on May 29, 2026. Market analysts suggest the leading cryptocurrency could face additional downside pressure as BlackRock’s iShares Bitcoin Trust (IBIT) records its longest streak of outflows since launching in 2024. At the same time, Wall Street investors are increasingly directing capital toward artificial intelligence opportunities, highlighted by Anthropic’s massive $65 billion Series H funding round ahead of its anticipated IPO in October.

According to SoSoValue data, IBIT has experienced nine consecutive trading days of net outflows since May 15, with total withdrawals exceeding $2 million. Reports also indicate that a single transaction involving approximately $1.3 billion worth of IBIT shares was sold on May 26. The prolonged outflow trend points to weakening institutional demand for Bitcoin-related investment products.

Glassnode data reveals that Bitcoin market risk began increasing around May 15, coinciding with the start of the ETF outflow streak. Meanwhile, the S&P 500 has continued to climb, suggesting investors are not broadly reducing risk exposure but are instead reallocating capital into alternative sectors, particularly artificial intelligence.

Market observers argue that AI investments are attracting liquidity that may have otherwise flowed into cryptocurrencies. Anthropic’s latest funding round attracted major financial firms, including Blackstone, Fidelity, T. Rowe Price, Capital Group, and Jane Street. Several analysts believe upcoming AI-related public offerings, including those involving Anthropic and OpenAI, could further strengthen this capital rotation trend.

The shift is also reflected in crypto markets. AI-focused cryptocurrencies have outperformed Bitcoin recently, with NEAR Protocol gaining 12% over the past week, while Injective and Artificial Superintelligence Alliance (FET) have risen 12% and 8%, respectively.

From a technical perspective, Bitcoin has formed a bear flag pattern after dropping from $78,000 to around $73,000 before attempting a recovery. If BTC breaks below key support near $73,229, the pattern projects a potential decline toward $68,660. The Relative Strength Index (RSI) currently sits near 33, signaling weak bullish momentum and increasing the possibility of further downside.

However, some indicators offer cautious optimism. The Awesome Oscillator (AO) shows negative but improving momentum, suggesting bearish pressure may be fading. If buyers regain control and push Bitcoin above the important $74,000 resistance level, the cryptocurrency could avoid the bearish scenario and attempt a broader recovery.

As institutional investors increasingly embrace artificial intelligence opportunities, Bitcoin’s near-term outlook remains closely tied to ETF flows, investor sentiment, and broader capital allocation trends across financial markets.