CryptoSlate diagnosed that with spot demand needed for a market rebound, outflows from Bitcoin spot ETFs are acting as a clear selling wall. The media explained, "Looking at Bitcoin ETF fund flows, approximately $1.79 billion was net outflowed over the week from June 22 to 26. Of that, $1.3 billion exited BlackRock's IBIT, accounting for 73% of the weekly net outflow. While ETFs still serve as a complex demand channel in the Bitcoin market, at least for now, they are acting as the largest spot redemption channel. The next few trading days are very important. If IBIT's selling pressure slows down, this week could reflect market fatigue towards selling pressure. Conversely, if large-scale redemptions occur again, concerns about an 'ETF-driven selling wall' will further expand. The next few days are crucial."
