ETF sees 14 consecutive days of net outflows totaling $4.4 billion BTC rebound unlikely to change the medium-term weak tone

As of June 13 in U.S. Eastern Time, US Bitcoin spot ETFs have recorded net fund outflows for 14 consecutive trading days, with total outflows exceeding $4.4 billion and setting the longest consecutive outflow streak since product launch. Single-day net outflows reached $77 million. Although there was a slight turnaround with some inflows on June 12, it did not reverse the overall trend of ongoing institutional de-risking and selling.
Continued institutional capital leaving the market is the key driving force behind this round of BTC declines. In the rebound this time, driven by expectations of U.S.-Iran reconciliation, ETF flows have not shown a trend of sustained recovery, which is enough to show that institutions remain cautious about the medium-term outlook. With strong intent to reduce holdings during the rebound, sell pressure overhead is heavy, and both the height and duration of the rebound will be significantly reduced.
In the short term, the rebound driven by sentiment faces its upper limit pressure in the 65,500-66,000 range. After favorable news is realized, it will most likely return to a downtrend channel. The first pullback target is the 62,000-63,000 support zone. If it breaks down below on a sustained basis, it will further probe the 60,000 psychological level, and may even retest the prior low near 59,000. $BTC ‌#美伊协议达成海峡将开放