Institutional Bitcoin Flows Turn to $8 Billion Net Outflow in 30 Days, Capping Upside

BIT said institutional money flows tied to Bitcoin turned into an $8 billion net outflow over the past 30 days. The firm said institutional investors are cutting cryptocurrency exposure ahead of a seasonal summer slowdown in trading.

On June 22, BIT, formerly Matrixport, wrote on X that combined flows across stablecoins, Strategy and spot Bitcoin exchange-traded funds recorded $8 billion of net outflows over the past 30 days.

BIT said the pattern differs from the fourth quarter of last year. Back then, inflows merely stalled. Now, the flow picture has clearly turned negative.

"Without a major bullish catalyst, buying interest may struggle to resume," BIT said, pointing to a dovish Federal Reserve as one possible variable.

BIT also said Bitcoin's drop from $82,000 to $62,000 may be more significant than its earlier decline from $102,000 to $82,000.

The firm added that upside currently appears limited and that short-volatility strategies may still offer opportunities. It said the analysis was not investment advice.