ETFs have seen outflows of over 60,000 units in three days, with funds moving into AI stocks to escape the heat. Summer is indeed not very friendly to holders.

CoinWorld Net News reports that K33 research head Vetle Lunde said that the price of Bitcoin may face deeper losses, as current funds are flowing into artificial intelligence (AI) stocks, weakening demand for Bitcoin. He noted that Bitcoin’s price has fallen from $67,160.49 to $67,000, which may signal that investors could face challenges in the summer. Lunde also mentioned that over the past three weeks, Bitcoin ETF products have seen outflows of 62,794 BTC, setting the second-largest outflow record in history. Although K33 still believes Bitcoin is undervalued relative to stocks, the market conditions are more severe than they were a few weeks ago as institutional demand weakens and ETF investors withdraw.