Bitcoin Sees Surprise Turnaround as Institutional Investors Return

The Bitcoin market has seen a significant turnaround in recent days, as institutional investors have begun pumping fresh capital into US spot Bitcoin ETFs. After thirteen consecutive days of capital flight from these funds, net inflows of $85.85 million were recorded on June 12, snapping the withdrawal streak that had drained over $4.4 billion since mid-May.

The cryptocurrency responded positively to this influx, experiencing a 3% daily gain and trading near $63,552 - still a long way from its all-time high of $126,080, but pulling away from the June low around $59,000.

BlackRock's iShares Bitcoin Trust led the charge with $57.7 million in fresh capital, while Fidelity's FBTC added $18 million. This reversal suggests that institutional appetite for Bitcoin exposure is far from exhausted.