$BTC Bitcoin ETF Redemptions Signal First Institutional Bear Market
The first institutional bear market in bitcoin is not a crash - it is a slow, structural withdrawal of capital that began three weeks ago and has yet to find a floor.
Redemptions are concentrated in the two largest vehicles. IBIT shed 8,200 BTC since May 30 while FBTC lost 4,200 BTC over the same window.
What triggered the move
The reversal coincides with three catalysts. First, the April halving reduced miner supply by 450 BTC per day, removing a natural seller but also eliminating the post-halving rally narrative that had supported flows.
How desks are positioning
Custody data reveals a shift in holder composition. Coinbase Prime wallets associated with ETF custodians show 42,000 BTC in outbound transfers since June 1, while over-the-counter desks report two-way flow with a net sell bias.
Watch $BTC for the next session - if this move holds, it changes the read.
$BTC #BTC #ETF #CryptoNews
The first institutional bear market in bitcoin is not a crash - it is a slow, structural withdrawal of capital that began three weeks ago and has yet to find a floor.
Redemptions are concentrated in the two largest vehicles. IBIT shed 8,200 BTC since May 30 while FBTC lost 4,200 BTC over the same window.
What triggered the move
The reversal coincides with three catalysts. First, the April halving reduced miner supply by 450 BTC per day, removing a natural seller but also eliminating the post-halving rally narrative that had supported flows.
How desks are positioning
Custody data reveals a shift in holder composition. Coinbase Prime wallets associated with ETF custodians show 42,000 BTC in outbound transfers since June 1, while over-the-counter desks report two-way flow with a net sell bias.
Watch $BTC for the next session - if this move holds, it changes the read.
$BTC #BTC #ETF #CryptoNews