Spot ETF fund flows continue to deteriorate.

On June 24, BTC ETF net outflows were approximately $469 million.
On June 25, net outflows continued at approximately $426 million.
There is no obvious institutional buying; instead, there is sustained redemption pressure.
On June 24, ETH ETF net outflows were approximately $30.3 million.
On June 25, net outflows continued at approximately $16.5 million.
The macro market is clearly still bearish. Although last night's PCE data did not strengthen expectations of a rate hike, the pressure of a September rate hike and the withdrawal and shift of liquidity have kept the crypto circle in a bearish environment.
For the market to rise, there must be favorable signals from the macro environment, or all bearish factors must have been fully priced in.
Otherwise, even if it hits the daily limit down, it will be a longer consolidation at the bottom.
#BTC