Spot ETF fund flows continue to worsen. June 24: BTC ETF net outflow of approximately $469 million June 25: Continued net outflow of approximately $426 million No significant institutional funds stepping in, instead, there's sustained redemption pressure. June 24: ETH ETF net outflow of approximately $30.3 million June 25: Continued net outflow of approximately $16.5 million. The macro market remains clearly bearish. Although last night's PCE data didn't strengthen rate hike expectations, the pressure of a potential September rate hike and the withdrawal/shift of liquidity are keeping the crypto space in a bearish environment. For prices to rise, we need either favorable signals from the macro environment or for all bearish factors to be fully priced in. Otherwise, even if we hit the limit down, it will just lead to a longer period of bottom consolidation. $BTC