Overview
- U.S. spot Bitcoin ETFs recorded a record $6.35 billion net outflow over the last 30 days, according to Galaxy Research, reversing the multi‑billion inflows that had supported the market since January 2024.
- Those funds also logged a sixth consecutive weekly outflow, with $226.8 million leaving in the week ending June 18, per SoSoValue, though the weekly pace has slowed sharply from early June.
- Bitcoin fell about 17% over the past month into the low $60,000s and has mostly traded in the mid‑$60,000 band, briefly reclaiming roughly $65,000 on June 22 after diplomatic news eased energy risk.
- Market forces keeping price muted include a firmer U.S. dollar and stronger short‑term Treasury yields after the Fed’s policy reset, while the U.S. Treasury’s June 22 general license for limited Iranian oil sales eased oil prices and supported a short rally.
- Selective demand is intact: public corporate holders disclosed fresh purchases (Strategy bought 520 BTC and Strive bought 759 BTC last week), and the slowing outflow rate suggests selling may be tiring but a durable recovery needs sustained ETF inflows or clearer macro relief.