Weekly outflows from spot Bitcoin exchange-traded funds (ETFs) have slowed dramatically, dropping 87% from their peak levels in early June.
According to data from on-chain analytics firm Spot On Chain, net outflows from Bitcoin ETFs reached $1.72 billion during the first week of June but have since contracted to $226 million in the most recent weekly period.
The 87% drop indicates that selling pressure is easing after a period of significant redemptions. Market analysts point to several factors behind the reduced outflows, including a broader cryptocurrency market with relative price stability and institutional investors completing their initial rebalancing or profit-taking strategies.
While outflows have not yet turned into net inflows, the deceleration suggests that selling pressure is easing. Investors will be watching the coming weeks closely to see if this trend continues.