The U.S. real bitcoin ETF began to show signs of a return to financial stability after successive large outflows. According to several research institutions, the institutional pressure on pre-negotiation by ETF is weakening, but the off-the-shelf buyout has not yet fully recovered and more demand is needed to sustain the market's rebound.

ETF, the money flow is starting to get right.

Encryption investment agency Swissblock indicates that this round of ETF sales may be nearing completion. The agency described the previous financial outflows as one of the strongest ETF distributions in the bear city and considered that the most severe institutional pressure had passed.

In terms of time, the real bitcoin ETF in the United States recorded a net outflow of 10 consecutive trading days, starting on June 17, totalling approximately $2.7 billion. The financial landscape has since improved, with a combined net inflow of over $500 million over the next three trading days.

However, the re-emergence of a net outflow of approximately $84.9 million on Wednesday by ETF suggests that the return of funds remains volatile. According to Swissblock, despite fluctuations in single-day data, the overall trend shows a marked decrease in the amount of push over the previous period.

The institutional mood is still not completely repaired.

Swissblock also reminds us that it is not yet possible to judge that the market is at an advanced stage. The Agency believes that the return of funds in the near future is a positive sign, but that institutional risk preferences have not fully recovered.

In its view, the market had moved away from the previous phase of panic sales, but it was too early to judge whether or not the round had really ended. In other words, markets may have emerged from the most tense moments, or may have entered only temporarily into the gap between fluctuations.

Futures demand recovery faster than available

CryptoQuant, a chain research institute, also gave a relatively cautious judgment. According to its researcher IT Tech, the overall demand for bitcoin has been significantly repaired over the past week, and the cumulative demand for 30 days has risen from close to negative half a million BTCs to about 75,000 BTCs.

This change is an indication that the demand gap is narrowing, but that the overall picture is not back to square one. In other words, the market is healthier than before, but a spot purchase plate is not enough to confirm that a strong rebound has taken place.

In contrast, futures markets were repaired faster. CryptoQant data show that future demand for bitcoin has risen from about negative 295,000 BTCs to slightly above zero, while spot demand remains negative.

This means that the return of funds traded using derivatives is faster than the direct purchase of spot money in bitcoin. For the market, this usually represents a recovery in risk preferences, but the long-term stability of trends remains dependent on continued improvement in spot demand.