The US Bitcoin spot ETF recorded net inflows of approximately $1 billion last week, showing continued investor interest despite a notable market cooling trend.
This figure is still significant, but represents a 29% decrease from the previous week's $1.39 billion, suggesting that institutional interest in BTC exposure is adjusting.
Bitcoin Price Stagnation…ETF Demand Noticeably Decreases
From June 16 to June 20, Bitcoin-supported funds recorded net inflows of $1.02 billion, nearly a 30% decrease from the previous week's $1.39 billion.
This decrease in inflows occurred amid BTC's poor performance and difficulties stabilizing in the $103,000 price range. This trend emphasizes short-term market uncertainty as geopolitical tensions in the Middle East weaken investor sentiment. Read more.
Last week, BlackRock's spot BTC ETF IBIT recorded the highest net outflows among all BTC ETFs, with $12.3 billion flowing into the fund, reaching a total historical net inflow of $51 billion. Read more.
Bitcoin Drops Below $103,000
Today, Bitcoin continues its downward trend, falling below the psychological $103,000 price level. Dropping 1% in the past day, BTC is currently trading around $101,000.
The price decline coincides with a 37% increase in the coin's daily trading volume, reflecting market selling pressure. When an asset's price falls and trading volume increases, it indicates strong selling pressure.
However, BTC's continued positive funding rate in the derivatives market suggests underlying bullish sentiment among futures traders. Currently at 0.002%, it shows a preference for long positions despite the coin's minimal price performance.
Moreover, today's options market shows high demand for call contracts, indicating that many traders anticipate potential upside.
This reinforces the broad risk preference mood, suggesting that cautious optimism continues to dominate short-term derivatives market sentiment.
