Investor sentiment took a hit this week as U.S.-based Bitcoin exchange-traded funds (ETFs) recorded a staggering $696.3 million in net outflows. This significant movement coincides with Bitcoin’s struggle to maintain key support levels, ultimately sliding below the critical $60,000 mark.
This latest sell-off marks the highest single-day withdrawal witnessed throughout June, signaling heightened caution among institutional traders. The current market volatility has exacerbated existing pressure, bringing total cumulative net outflows for the year to approximately $4.6 billion.
Market analysts suggest that the cooling appetite for spot ETFs reflects broader macroeconomic uncertainty. As Bitcoin continues to face downward momentum, investors are closely watching to see if demand will rebound or if the downward trend is set to deepen further.
