Bitcoin Near $63,000 as ETF Outflows Continue

Stack of gold Bitcoin coins with price tag, office building with arrows pointing outward, and screen displaying a falling chart.

Bitcoin Trades Near $63,000 as Institutional Analysts Highlight Continued Accumulation Despite ETF Outflows

Key Takeaways

Bitcoin traded around $63,000 after rebounding from a two-month low reached on June 5.
The asset remains roughly 50% below its October 2025 all-time high of $126,279.
Spot Bitcoin ETFs recorded about $2.6 billion in net outflows year-to-date, while total net inflows into ETFs and corporate treasury companies slowed to $12 billion in 2026.
According to Bernstein, 61% of Bitcoin’s circulating supply has not moved in more than a year.
The CLARITY Act advanced in the Senate Banking Committee with a 15-9 vote after passing the House in July 2025.

Bitcoin Stabilizes Around $63,000 After Recent Decline

Bitcoin traded around $63,000 on Monday, recovering from a two-month low reached on June 5. The recent weakness followed a combination of spot exchange-traded fund outflows, macro uncertainty, and capital rotation into artificial intelligence-related equities.

At current levels, Bitcoin remains approximately 50% below its all-time high of $126,279, recorded in October 2025. The decline has coincided with a pullback in retail participation and more cautious sentiment in mainstream coverage.

Despite these conditions, several institutional analysts argue that the long-term investment case for Bitcoin as a store of value remains unchanged.

ETF Flows and Corporate Selling Shape 2026 Market Activity

In a report published Monday, analysts at Wall Street brokerage Bernstein stated that Bitcoin’s long-term store-of-value thesis remains intact. The firm noted that combined net inflows into spot Bitcoin ETFs and corporate treasury companies reached $12 billion so far in 2026. That figure represents a sharp slowdown compared with $60 billion recorded in 2025.

Bernstein attributed much of the recent selling pressure to corporate treasury companies liquidating positions rather than to ETF investors. According to the report, spot Bitcoin ETFs recorded approximately $2.6 billion in net outflows year-to-date.

The distinction between ETF flows and corporate sales is relevant for market participants assessing the source of supply pressure. While ETF outflows can signal shifting investor demand, corporate treasury liquidations directly increase available supply in the market.

Institutional Ownership Indicators and Long-Term Holding Trends

Bernstein’s report highlighted that 61% of Bitcoin’s circulating supply has not moved in more than one year. This metric indicates that a majority of coins are held by investors who have not transacted during the recent volatility.

The brokerage maintained a price target of $150,000 for 2026, citing what it described as a structural shift in Bitcoin’s investor base. According to Bernstein, ownership has increasingly moved toward institutions such as wealth management platforms, pension funds, and sovereign wealth funds.

The firm previously characterized early 2026 as featuring the weakest bear case in Bitcoin’s history, arguing that adoption among banks and major investment firms differentiates the current downturn from earlier crypto market contractions.

Brownstone Research senior crypto analyst Ben Lilly drew a comparison to the 2022 bear market. He referenced BlackRock’s launch of a private Bitcoin trust in August 2022, which occurred during a market downturn and preceded the launch of BlackRock’s spot Bitcoin ETF, IBIT. That ETF later reached $80 billion in assets under management and did so five times faster than the previous record holder, Vanguard’s S&P 500 ETF. Lilly argued that institutional positioning during periods of retail disengagement has historical precedent.

Capital Rotation Into AI and Retail Focus on Equity Markets

Analysts tracking capital allocation trends reported a significant rotation into artificial intelligence-related stocks in recent months. Hundreds of billions of dollars have flowed into hyperscalers and large-cap technology companies, drawing attention and liquidity away from digital assets.

Retail focus has also shifted toward the upcoming SpaceX initial public offering, scheduled for June 12 on Nasdaq. The IPO is targeting a valuation between $1.75 trillion and $2 trillion. According to analysts cited in the report, this event has attracted retail capital that might otherwise have been directed toward cryptocurrencies.

In addition to capital rotation, sales by Strategy have contributed to selling pressure in the Bitcoin market.

Legislative Developments: CLARITY Act Advances in Congress

On the regulatory front, the CLARITY Act progressed in the US legislative process. The bill, which would divide regulatory authority over digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission, cleared the Senate Banking Committee in May with a 15-9 vote.

The House of Representatives previously passed the bill in July with a 294-134 vote. Final passage into law would address regulatory uncertainty that has affected institutional participation in the digital asset sector.

For market participants, legislative clarity is closely tied to access, compliance requirements, and product availability across trading platforms and investment vehicles.

Our Assessment

Bitcoin’s price stabilization near $63,000 comes amid slower net inflows, modest ETF outflows, and corporate treasury selling. At the same time, a majority of circulating supply remains inactive, and institutional analysts point to continued accumulation by large investors. Legislative progress on the CLARITY Act and ongoing capital rotation into AI-related equities form part of the broader environment shaping current market dynamics.