In the United States, the real bitcoin ETF experienced the worst single-month financial outflows since its listing in June, but the chain holders were clearly stoked over the same period. Market data show that large amounts of bitcoin-held wallets have accumulated more than 270,000 BTCs over the past two weeks, estimated at approximately $16.7 billion in price terms.

This means that the withdrawal of institutional funds is taking place at the same time as the absorption of long-term holders. Similar divisions have occurred in the vicinity of the lows of the previous cycle, where the sale was first taken over by large households, and price repair usually lags behind leverage transfers.

ETF June, a record out.

The United States current bitcoin ETF net outflow of $4.76 billion in June, which is higher than the $3.56 billion that was created in February 2025, was the worst month since the product was put on the market.

Continued redemption has also turned the cumulative financial flows since 2026 into negative. It was not until Thursday that ETF recorded a net inflow of about $221 million, ending a continuous outflow.

  • Net outflow June: $4.06 billion
  • Previous record: March/February 2025 US$ 35.66 billion
  • Net inflow Thursday: $221 million

The giant whale takes over.

In contrast to the ETF financial outflows, there has been an increase of over 270,000 BTCs over the past two weeks. It has been reported that such “agency-sold, large-housed” structures have tended in the past to be at the very bottom of the market.

This does not mean that prices will rebound immediately, but suggests that part of the long-term capital is continuing to absorb liquidity while the market is under pressure. In the case of bitcoin, the outflow of funds from traded products does not mean that all major funds are being withdrawn simultaneously.

The mainstream currency continues to divide.

With the exception of bitcoin, the recent performance of mainstream encrypted assets has not been consistent. It was reported that Solana had risen by about 15 per cent since the beginning of June and was relatively prominent among the main coins. The driving factors include the upgrading of agreements and the increase in the scale of real asset transfers through chain-based monetization.

According to the text, real asset transfers in the Solana chain increased by 120 per cent to $8.33 billion. In contrast, some of the Taifung 2 tokens remain near historical lows. The report attributed this to changes in technology routes and a decline in the capture logic of associated network costs.

The market continues to focus on US inflation.

At the macro level, the next United States inflation data remain the focus of market attention. The monthly inflation rate of 4.2 per cent, which is higher than the market expectations, is also one of the most important contexts of the recent Bitcoin pressure.

If post-inflation data fall, the market's judgement of the Fed's interest rate path may be adjusted and risk asset pressures may ease. For the encrypted market, short-term price performance will continue to be influenced by the expected confluence of macro interest rates with financial flows.