ETF Outflows Accelerate as Funding Stays Elevated

April Core PCE came in cooler at 0.2% MoM (3.3% annual, in line) , but Q1 GDP was revised down to 1.6% , and US-Iran geopolitical escalation drove a broad risk-off bid. BTC fell -4.7% to $73.7K , ETH at $2.0K sits near a 90-day low, and US spot Bitcoin ETFs marked a 9-day outflow streak (the longest since launch in January 2024). Funding stayed elevated across BTC (94th percentile), ETH (98th), and SOL (94th), with longs paying carry into falling spot. Last week’s regime-change conditions did no