U.S. institutional demand had its worst month ever in June. Large holders absorbed the selling, marking a divergence that has shown up near past cycle bottoms.

US spot Bitcoin ETFs recorded $4.06B in net outflows in June 2026, the worst month since launch, as Bitcoin fell to a year-to-date low of $58,190.

US spot Bitcoin ETFs posted record outflows of $4.5 billion in June, far exceeding Strategy’s authorization to sell up to $1.25 billion worth of Bitcoin under its new capital…