📉 What is pushing the market down?


Record ETF outflows: Institutions are massively withdrawing money.
June became the worst month in history for US spot Bitcoin ETFs — more than $4 billion was withdrawn from funds (the IBIT fund by BlackRock was particularly notable).
Regulatory pressure: The market is in turmoil due to uncertainty ahead of the full enforcement of European MiCA rules on July 1.
Most crypto companies in the EU still have not obtained the necessary licenses, threatening delistings and liquidity freezes.
Capital flight to other assets: Against the backdrop of the US Fed's tight policy and high rates, investors prefer to move into more predictable tech sectors (especially AI stocks) and new large IPOs (e.g., SpaceX).
Problems among giants: The largest corporate holder of BTC, Strategy (MicroStrategy), has faced a drop in stock price and a slowdown in purchases, removing a strong demand buffer from the market.
BTC-0.97%
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