🥲Forget Bitcoin, The Money Is Flowing Elsewhere

Even Bitcoin ETFs are selling now.

Author

Ivan
June 03, 2026

Happy Wednesday!

Bitcoin, Ethereum, Solana may not be the best crypto bets in this market. Instead, you should look at these coins, says Raoul Pal’s chief analyst.

Bitcoin ETFs have been selling off hard over the past weeks and shed another $500 million on Tuesday. How much lower can BTC go?

Plus, every Friday, Benzinga Edge members receive five hand-picked stocks quietly gaining momentum before Wall Street catches on — the same Whisper Index that flagged MicroStrategy, Coinbase, and Uber before each became a crowded trade.

TOP STORY

Bitcoin, Ethereum, and Solana may not be the best crypto trades for the next cycle.

Real Vision chief crypto analyst Jamie Coutts says capital is rotating toward protocols tied to AI, privacy, and on-chain applications as the global crypto market cap slides from $2.7 trillion to $2.3 trillion in under a month.

Coutts called the current environment a "lull even as everything else rips," with liquidity flowing into AI equities because those businesses carry stronger earnings narratives than crypto right now.

Near-term, he warned Bitcoin may still revisit the mid-$60,000s before a larger cycle reset — but called that zone a "strong accumulation zone" on a long-term horizon.

The names he's watching instead?

SPECIAL OFFER

Every Friday, Benzinga Edge members receive five hand-picked stocks quietly gaining momentum before Wall Street catches on — the same Whisper Index that flagged MicroStrategy, Coinbase, and Uber before each became a crowded trade.

Beyond the weekly picks, Edge scores every ticker across five metrics — momentum, growth, quality, value, and trends — so you always know where the real strength is hiding and which positions deserve a second look. Two done-for-you portfolios, daily chart setups, insider trading alerts, and real-time congressional disclosures round out the membership.

QUICK N DIRTY

Bitcoin, Ethereum, XRP are selling off hard and are struggling to find a floor: here’s what else is moving markets today.

Cardano has not done much better in recent weeks, but founder Charles Hoskinson says crypto is the ‘near-perfect’ complement to AI agents.

Bitcoin is so 2025 if you ask this prominent crypto investor: he says the early trade is somewhere else and it’s not AI.

FINTECH FOCUS

Bitcoin crashed to $66,000 overnight as U.S. spot ETFs shed $519 million in a single session.

BlackRock's IBIT alone dumped 5,800 BTC worth $440 million while only Morgan Stanley bought, picking up a token 220 BTC against the tide.

The five-week ETF outflow total has now hit $5 billion, Tuesday's selling alone represented 17 days of mined Bitcoin supply exiting through U.S. spot ETFs in one session, and Ethereum ETFs have bled $911 million over five weeks.

The only green on the board: altcoin ETFs — Solana added $6.5 million, Hyperliquid pulled $3.15 million, and Dogecoin attracted $662,000 as capital rotates out of the majors into newer products.

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