The institutions are pulling out this round, totaling 5.4 billion, and the risk-off signal is quite clear.

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Arewa_Crypto
Bitcoin ETFs Bleed $5.40 Billion Since Mid-May Following Relentless Sell-Off

There is no end in sight for the current institutional distribution phase. Net outflows from spot Bitcoin investment vehicles have reached a cumulative $5.40 billion over 28 days, signaling a macro shift toward risk-off sentiment.
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