Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.
US spot Bitcoin ETFs registered slight outflows this week. On-chain data shows that miners’ selling activity is increasing, signaling bearish momentum. US and German governments collectively transferred to exchanges 4,690.28 BTC, valued at $287.57 million. Seasonal data shows that BTC could see gains in July. Bitcoin price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.
German Government currently holds 45,609 $BTC. The German Government also transferred 0.001 $BTC to Flow Traders, which may be a test… pic.twitter.com/F0CFUDPQoP — Lookonchain June 26, 2024 Bitcoin spot ETFs display weakness US spot Bitcoin ETFs have seen outflows persist for three consecutive weeks, according to Coinglass data, starting with a $174.5 million outflow on Monday. This was followed by a modest inflow totaling $63.8 million over the next three days.
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