Bitcoin price faces new risk as big buyers lose conviction
Bitcoin’s institutional support is weakening. US spot Bitcoin ETFs, which had been a major source of demand since 2024, have seen a five-week outflow streak totaling more than $5 billion, with net flows running well below new supply and trading volume sharply lower. Corporate treasury buyers have also slowed, with accumulation dropping from over $500 million a day to near zero in June. Some Bitcoin-holding firms have even sold parts of their holdings, and trading in their equities has fallen, suggesting reduced appetite for the “Bitcoin proxy” trade. At the same time, whales and retail investors are sending more BTC to exchanges, a sign of rising sell pressure as Bitcoin struggles near $60,000. Broader crypto trading volume has also cooled. The market is not seeing a full institutional exit, but the largest buyers are no longer absorbing supply strongly enough to support prices.
