ETF capital flows are a thermometer of smart money — right now, the needle is moving downward, but some are adding positions against the trend, indicating that a critical divergence has reached a key point. The upcoming two weeks' holdings report is worth paying close attention to.

CryptoWorld News reports that on June 1st, the total net outflow of Bitcoin ETFs was $483.76 million, including Blackstone's IBIT with a net outflow of $440.29 million, Fidelity's FBTC with a net outflow of $37.29 million, ARK's ARKB with a net outflow of $12.32 million, and Morgan Stanley's MSBT with a net inflow of $6.14 million. The remaining ETFs had zero inflow.