U.S. Spot Bitcoin ETF Sees $4.5 Billion Net Outflow in June, Worst Monthly Performance Since Launch

Odaily Planet Daily News: The U.S. spot Bitcoin ETF experienced a net outflow of $4.5 billion in June, marking its worst monthly performance since its launch in January 2024. Bitcoin fell 20.48% in June, hitting a 21-month low of $58,190 on July 1. Citigroup lowered its 12-month target price for Bitcoin from $112,000 to $82,000, following a previous adjustment from $143,000 on March 17. Citigroup also reduced its 12-month target price for Ethereum from $3,175 to $2,240. Strategy sold 32 Bitcoins between May 26 and May 31, worth approximately $2.5 million, marking its first sale since December 2022. As of May 31, it held 843,706 Bitcoins, with the board approving a framework for Bitcoin sales of up to $1.25 billion. Open interest in leveraged Bitcoin futures dropped from approximately $31.3 billion around May 30 to about $21.6 billion in early June. Over two weeks, major holders increased their positions by more than 270,000 Bitcoins.