U.S. spot Bitcoin ETFs saw net outflows of $4.5 billion in June, the worst monthly performance since launch

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Odaily Planet Daily: U.S. spot Bitcoin ETFs saw net outflows of $4.5 billion in June, the worst single-month performance since they were launched in January 2024. Bitcoin fell 20.48% in June, reaching a 21-month low of $58,190 on July 1.

Citi cut its 12-month target price for Bitcoin from $112,000 to $82,000; previously, on March 17, it had already reduced it from $143,000. Citi also lowered its 12-month target price for Ethereum from $3,175 to $2,240.

Strategy sold 32 Bitcoins from May 26 to May 31, worth about $2.5 million, its first sale since December 2022. As of May 31, it held 843,706 Bitcoins, and the board approved a framework allowing for up to $1.25 billion in Bitcoin sales.

Leveraged Bitcoin futures open interest fell from around $31.3 billion before May 30 to about $21.6 billion in early June. Over two weeks, major holders increased their positions by more than 270,000 Bitcoins.
BTC0.59%
ETH2.89%
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