Bitcoin market cap sheds $1.163T as $2.81B exits U.S. spot ETFs and retail demand tested

Bitcoin has seen about $1.163 trillion erased from its market capitalization since its October peak of $2.515 trillion, while U.S. institutional appetite has weakened and ETF redemptions have risen. Around $2.81 billion has left U.S. spot Bitcoin ETFs over the last two months, and recent spot net buying of roughly $305 million across three days points to fragile demand as retail traders try to absorb ongoing selling pressure.