BTC spot ETFs losing ability to absorb selling pressure, says Swissblock

Bitcoin (BTC) spot ETFs are struggling to effectively absorb market selling pressure, on-chain analytics firm Swissblock said on X. The firm noted that whenever its risk index has entered a high-risk zone, ETF fund flows have worsened, influenced by institutional selling. While cumulative net inflows into BTC ETFs since the beginning of 2026 remain positive at 4,500 BTC, the margin is very narrow. After a period of strong accumulation in March and April, the trend shifted back to selling in May. Swissblock warned that as the risk index moves into the high-risk area and ETF inflows weaken, a decline in support from ETFs could push the risk index even higher.