Bitcoin News
By Evie Vavasseur
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Wall Street Treats Bitcoin Like Any Other Risk Asset. So what's actually driving the selling? Probably not panic, or at least not pure panic.
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Long-Term Holders Aren't Flinching. Here's the split that makes the current moment interesting.
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Deribit Options and the $60K Pressure Zone. A $10.6 billion Deribit options expiry added more turbulence.
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Six weeks. That's how long the bleeding has lasted. US spot Bitcoin ETFs have shed roughly $5.
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Galaxy Research tracked a particularly brutal 30-day window ending June 20, where outflows hit $6.35 billion. Bitcoin's price felt every bit of it.
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The first week of June was the worst. $1.72 billion walked out the door in those first seven days alone. Things slowed after that — outflows dropped to $226.
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So what's actually driving the selling? Probably not panic, or at least not pure panic. Experts say institutional investors are basically doing portfolio math — cutting Bitcoin…
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And right now the calculus is shifting hard.
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The Personal Consumption Expenditures index climbed to 4.1% year-over-year, the highest reading since 2023. Bitcoin dropped toward $58,000 on that print.
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It's not a great environment for speculative assets. That's pretty much the situation.
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See also: Bitcoin Bounces Back Above $60K as $10.6 Billion Options Expiry Hits Deribit and CME
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Here's the split that makes the current moment interesting. While ETF investors are pulling back, long-term Bitcoin holders — defined as those who've held for over 155 days — are…
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Newer investors haven't been so patient. Recent capitulations involved selling at losses from purchase prices between $55,000 and $68,000.
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Realized losses inside the ETF sector jumped 78% month-over-month. That sounds alarming, but it can actually read as a strategic reshuffling rather than a full exit.
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A $10.6 billion Deribit options expiry added more turbulence. Most of the open interest expired out of the money, which wasn't surprising given where Bitcoin was trading.
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