Huoxing Finance, citing Santiment's weekly market recap, reported that Bitcoin spot ETFs have recorded net outflows in nine of the last 10 trading days. Bitcoin is currently trading around $77,500, which Santiment interprets as a sign of fading retail confidence. Santiment also noted that Ethereum market sentiment has fallen to its lowest level since 2023. Even so, the number of nonzero Ethereum addresses has climbed to 192.92 million, more than triple Bitcoin's roughly 59 million. On Bitcoin positioning, Santiment said the ratio of bullish to bearish comments has risen to 2.23, the highest level since 2026. Historically, sentiment readings at similarly elevated levels have often been followed by short-term pullbacks.

Santiment's weekly market wrap reported that Bitcoin ETFs have posted net outflows in nine of the past 10 trading days, with Bitcoin currently hovering around $77,500. The firm interprets the streak as a sign that retail confidence is fading. Ethereum sentiment has sunk to its weakest level since 2023. Even so, the number of nonzero Ethereum addresses has climbed to 192.92 million—more than triple the roughly 59 million nonzero Bitcoin addresses. Santiment also said the bullish-to-bearish comment ratio for Bitcoin has risen to 2.23, the highest reading since 2026. Historically, it noted, sentiment running this hot has often been followed by short-term pullbacks.

Santiment said U.S. spot Bitcoin ETFs have recorded net outflows of about $1.26 billion over the past six trading sessions, a move the firm argues could be interpreted as a contrarian buying opportunity for Bitcoin. The crypto analytics platform said ETF flow data tends to track retail sentiment more closely than shifts in "smart money" positioning. Santiment pointed to signs that some retail investors grew impatient after Bitcoin failed to hold above $80,000 in May. BTC is now trading near $75,400, down from a mid-May high of roughly $79,000. According to Santiment, extended periods of ETF outflows have historically aligned more with windows for gradual, patient accumulation than with outright market panic. That stance differs from broader market thinking. Many analysts view consecutive withdrawals from spot Bitcoin ETFs as a sign of weakening sentiment and a setup for additional downside pressure. Bloomberg ETF analyst James Seyffart noted that since launch, spot Bitcoin ETFs have taken in close to $60 billion in cumulative net inflows, largely offsetting the roughly $9 billion of outflows seen between October last year and February this year. He expects net inflows to reach new all-time highs as more ETF products come to market.

Morgan Stanley's spot Bitcoin ETF, MSBT, added 14.333 BTC to its holdings yesterday, according to Arkham tracking cited by Odaily Planet Daily. The purchase was valued at about $1.11 million. MSBT's total Bitcoin holdings now stand at 3,486 BTC, worth roughly $263 million.

MicroStrategy Chairman Michael Saylor said the company may sell a portion of its Bitcoin holdings as early as before year-end, while maintaining a long-term objective of maximizing Bitcoin held per share by 2033, according to Cointelegraph cited by ChainCatcher. Saylor added that the company could also issue equity, use credit instruments, and actively manage its U.S. dollar and cash positions, running a programmatic, multi-variable approach aimed at improving long-term performance. MicroStrategy currently holds 843,768 Bitcoin, with an average purchase price of about $75,700.

Odaily Planet Daily reported that SoSoValue data showed spot Bitcoin ETFs posted a combined net outflow of $105 million on May 22 (U.S. Eastern Time), marking the sixth straight session of net redemptions. BlackRock's IBIT led the day's outflows, losing $68.89 million, while its cumulative historical net inflows rose to $64.773 billion. Fidelity's FBTC followed with a $36.29 million single-day net outflow, bringing its total historical net inflows to $10.764 billion. As of publication, total net asset value across spot Bitcoin ETFs stood at $98.866 billion. The ETF net asset ratio—market value as a share of Bitcoin's total market capitalization—was 6.49%. Cumulative net inflows since launch reached $57.084 billion.

MicroStrategy Chairman Michael Saylor said the company is "unlikely to never sell any Bitcoin," indicating it could dispose of a portion of its BTC holdings before the end of 2026—a further shift away from its long-held "never sell" posture, Mars Finance reported on May 23. Saylor said MicroStrategy may eventually manage its U.S. dollar liquidity more dynamically, potentially selling a mix of Bitcoin, equities and debt instruments to support its long-term aim of maximizing Bitcoin per share. He added that the company's core objective is to increase BTC held per share through 2033. MicroStrategy currently holds about 843,800 BTC, valued at roughly $65 billion, with an average purchase price near $75,700 per coin. Bitcoin is trading around $75,958, close to the firm's overall cost basis. Market participants say any first meaningful reduction in the company's BTC position could weigh on sentiment, given its reputation as a consistent buyer of Bitcoin.

Michael Saylor, chairman of Strategy, said the company may sell a portion of its Bitcoin holdings before the end of this year, softening his long-held position that it would never sell. In an interview with Natalie Brunell, Saylor also pointed to balance-sheet management tools such as selling equity and issuing credit products to manage U.S. dollar and cash positions. Strategy's Bitcoin position is valued at about $65 billion. The company has said its long-term objective is to maximize Bitcoin holdings per share by 2033. Data from Strategy's website and CoinMarketCap show the firm holds 843,768 BTC, purchased at an average price of roughly $75,700 per coin. (Cointelegraph)

BlockBeats reported that on May 23, MicroStrategy Chairman Michael Saylor said in a recent interview the company is "unlikely to never sell any Bitcoin," indicating Strategy may sell a portion of its BTC before the end of 2026. The comments suggest a further easing of its long-held "never sell" posture. Saylor said Strategy could eventually manage its U.S. dollar cash reserves by dynamically selling portions of its Bitcoin as well as equity and debt instruments, with the long-term goal of maximizing bitcoins per share. He added the core objective is to increase BTC per share as much as possible by 2033. Data show Strategy currently holds about 843,800 BTC, valued at roughly $65 billion, with an average purchase price of around $75,700. Bitcoin was last quoted near $75,958, close to the company's overall cost basis. Market participants say a first meaningful reduction in Strategy's BTC holdings could affect the long-standing view of the company as a "perpetual buyer" of bitcoin.