#TradFiCFD黄金大师赛 Institutional demand has collapsed dramatically: after redemptions of $2.43 billion in May, ETF net outflows in June hit yet another record high, with a total outflow of nearly $6.5 billion over the two months. The technical picture has slipped into uncharted territory: Bitcoin is currently trading around $59,300. Multiple on-chain analysts warn that if it cannot reclaim the 200-week moving average, the price may fall toward a potential bottom at $45,000. End-of-quarter “window dressing”: Fundstrat founder Tom Lee noted that the recent overall weakness in the crypto market is largely attributable to financial institutions’ “window dressing” behavior at quarter-end. 🏢 Institutional giants are adding large positions against the trend. Bitmine scooped up Ethereum aggressively: last week, Bitmine—the largest holder of Ethereum—spent another $43 million to increase its holdings by 27,084 ETH. Its total holdings are now 5,700,040 ETH, or about 4.7% of the total ETH supply. Strategy rolls out a new capital plan: Strategy introduced a new digital credit capital framework, increasing its Bitcoin reserves to $2.55 billion. Founder Michael Saylor hinted that it will continue its additional Bitcoin procurement plans.