Bitcoin spot ETFs acting as sell wall, next few days critical

Outflows from Bitcoin spot ETFs are creating a significant sell wall at a time when the market needs spot demand to rebound, CryptoSlate reported. The outlet noted that during the week of June 22–26, Bitcoin ETFs saw net outflows of approximately $1.79 billion. BlackRock's IBIT accounted for 73% of this total, with $1.3 billion withdrawn. While ETFs remain a complex demand channel for the Bitcoin market, they are currently functioning as the largest channel for spot redemptions. CryptoSlate emphasized that the next few trading days will be crucial. If selling pressure from IBIT subsides, it could signal market fatigue with the recent sell-off. However, another wave of large-scale redemptions would amplify concerns about an ETF-driven sell wall.