Bitcoin Falls 19% in Worst June Since 2022, Spot ETFs See Record $1.7B Weekly Outflow

According to SoSoValue data, Bitcoin is set for its worst monthly performance since June 2022, with prices down nearly 19% as investors withdrew a record $1.7 billion from U.S. spot Bitcoin ETFs last week. It was the seventh consecutive week of net outflows from the funds since their January 2024 launch.

Michael Saylor signaled on Sunday that Strategy (MSTR) would continue buying Bitcoin despite mounting pressure on its financing model. The company's market-to-net-asset-value ratio fell below 1 for the first time, eroding the premium that had enabled its aggressive acquisition strategy. Saylor posted on X, "we're gonna need more charts," as Bitcoin hovered near $60,000 after briefly sliding to $58,100.