After Bitcoin fell below $62,000, there are no signs of a return of capital inflows into digital assets. Analysts at Wintermute linked the correction to institutional selling and outflows from ETFs.
Source: X/Wintermute.Over the past week, Bitcoin lost about 14% and dropped to September 2024 lows. However, experts do not consider the current position of the asset to be a confirmed market bottom. They believe that a sustainable buying pressure is needed for a reversal.
Wintermute also mentioned the sale of 32 BTC by Strategy between May 26 and May 31. The company deemed this volume insignificant but noted the symbolic importance of the transaction—it was the first sale of Bitcoin by the firm since 2022.
Analysts estimate that the primary pressure on the market is due to weakening demand. Since May 30, U.S. spot Bitcoin ETFs have recorded 10 consecutive sessions of net outflows, with total net losses during this period amounting to approximately $2.97 billion.
The total outflow for May reached $2.43 billion, marking the worst monthly figure of 2026.
Wintermute also referenced data from its own OTC terminal: retail investors have recently been net sellers, shifting towards stocks. American institutions have taken a bearish stance in recent days, while flows in Asia and Europe remained balanced.
Analysts noted the weak technical support in the $50,000–$59,000 range, as Bitcoin quickly passed through this zone during its rise in 2024. The company added that some long-term capital is gradually accumulating positions at current levels, but for a market reversal to be confirmed, a return of sustainable inflows is necessary.