Bitcoin remained under pressure on Tuesday, trading near its lowest levels since September 2024 and heading for a second consecutive monthly decline, weighed down by weak institutional flows.
Spot Bitcoin ETFs recorded net outflows of approximately USD 4.3 billion during June, surpassing May’s USD 2.4 billion and marking the largest monthly withdrawal of the year. Ethereum products experienced a similar trend, with more than USD 500 million in outflows for a second consecutive month.
The macroeconomic backdrop also remains unfavourable. Expectations that major central banks could tighten monetary policy, combined with lingering tensions in the Middle East, have supported the US dollar and government bond yields, weighing on the cryptocurrency.
Corporate buying has provided only limited support. While Strategy continues to accumulate Bitcoin, its newly approved policy could lead to significant sales of the cryptocurrency. The latter could weigh on sentiment and confidence in the asset.
In the near term, Bitcoin is likely to remain highly sensitive to monetary policy signals emerging from the ECB’s Sintra Forum, as well as to any meaningful geopolitical developments that could alter global risk appetite.
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