Hupzy (Spot On Chain)|Jun 08, 2026 11:43
🚨 US spot Bitcoin ETFs posted $𝟭.𝟳𝟮𝗕 in net outflows during the June 1–5 trading week — the second-largest weekly outflow since launch. Ether ETFs also saw $173M in redemptions, a fourth consecutive week.
𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: The scale confirms institutional distribution is accelerating, not stabilizing. Combined with BlackRock's $226.8M BTC deposit to Coinbase Prime reported earlier today, supply-side pressure is compounding. Four straight weeks of ETH redemptions suggest the same dynamic across both assets. This is a structural headwind, not a one-week anomaly.
BTC faces a wall of institutional selling pressure. Key support to watch: $100k psychological, then $96k–$97k prior consolidation. ETH redemptions compound the same overhang — $2,400–$2,500 is the next meaningful support band.
--source: https://x.com/WuBlockchain/status/2063947281070784535
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