Eyes in the cryptocurrency markets have once again turned to fund data, which represents the appetite of institutional investors. According to data shared by SoSoValue, US-based funds experienced a net outflow of $226.8 million during the week ending June 18. This indicates that funds have been bleeding for six consecutive weeks, with a total outflow reaching $5.94 billion during this period.

It is noted that investors have shifted their focus toward AI-oriented stocks during this period. In particular, SpaceX’s IPO process and the intense interest seen in the AI sector have caused capital to shift away from crypto assets. However, the data reveals that after the massive $1.72 billion outflow in the first week of June, this figure decreased significantly last week. The pressure reflected by the intense red atmosphere in the visual is showing signs of numerical weakening.

Is Bitcoin ETF Selling Pressure Weakening?

Experts point out that the wave of selling is losing its strength rather than accelerating. Jeff Ko, Lead Analyst at CoinEx, states that some of the current outflows stem from the closing of arbitrage (profiting from price differences) trades and interest rate-linked positions rather than a direct decline in demand. Long-term investors, such as pension funds, appear to have remained more resilient during this process.

Bitcoin (BTC) price is currently attempting to stabilize around the $64,000 level. On the macroeconomic side, the hawkish stance of Fed officials regarding inflation continues to exert pressure on the markets. Analysts state that cryptocurrencies have decoupled from the stock markets and that the volatile trend may persist until a new bullish trigger arrives.

6-Week Bleeding in Bitcoin ETFs: Is the $5.94 Billion Outflow Coming to an End? isimli makale Fatih TAŞDEMİR tarafından hazırlanmış ve koinbulteni.comda yayınlanmıştır.