Bitcoin spot ETFs experienced a $140 million outflow on June 20, marking the fifth consecutive day of losses. The most significant outflows were from Grayscale’s GBTC, which lost $53.1 million, while BlackRock’s IBIT ETF saw an inflow of $1.48 million, highlighting diverse investor strategies.
The trend of outflows started earlier in the week, with $152.4 million leaving on June 18. The market is now closely watching upcoming U.S. private-sector PMI data on June 21, which could influence the Federal Reserve’s rate decisions and potentially halt the outflow streak.
Bitcoin’s price stands at $64,678, down 1.34% in the last day and 3.42% over the week. Despite short-term bearish trends, the price remains above its 200-day average, indicating potential long-term strength. Investors should monitor US Services data and Bitcoin ETF flows for future market movements.
The ongoing outflows and varying investor actions underscore the volatile nature of the crypto market and the strategic adjustments being made in response to economic indicators.
