Bitcoin whales bought $16.7 billion of bitcoin in 2 weeks even as ETFs bled a record $4 billion
U.S. institutional demand had its worst month ever in June. Large holders absorbed the selling, marking a divergence that has shown up near past cycle bottoms.
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Summary
- U.S. spot bitcoin ETFs saw a record $4.06 billion in outflows in June, pushing them negative for 2026 before a modest $221 million inflow on Thursday.
- Large bitcoin holders, or whales, accumulated more than 270,000 BTC ($16.7 billion) over the past two weeks even as U.S. spot demand remained weak, a pattern often seen near market cycle lows.
- While most major cryptocurrencies have slumped alongside bitcoin, Solana has gained about 15% since early June, whereas some Ethereum Layer 2 tokens have sunk to record lows amid shifting technology and fee dynamics.
- The next U.S. inflation reading, following a hot 4.2% May print, is seen as crucial for the Federal Reserve’s rate path and could reshape the pressure that has weighed on bitcoin this month.
