Spot Bitcoin exchange-traded funds in the United States recorded net outflows of $4.5 billion in June, marking the largest monthly capital withdrawal since the products launched in January 2024.
The scale of the exit signals a sharp deterioration in institutional and retail appetite for the digital asset, coinciding with a broader sell-off in the cryptocurrency market.
Bitcoin’s price has fallen to approximately $58,000, its lowest level in 21 months.
Bitcoin’s price has fallen to approximately $58,000, its lowest level in 21 months.
The decline reflects growing investor anxiety over the prospect of higher interest rates persisting for longer than previously anticipated.
Elevated borrowing costs reduce the attractiveness of non-yielding assets like Bitcoin, prompting a rotation back into safer, income-generating instruments.
Confidence in major corporate buyers has also waned, removing a key pillar of support that had underpinned the asset’s rally in previous quarters.