Bitcoin is showing its weakest monthly performance since July 2023, gaining only 2% in value in June. This weak performance contrasts with the strong weekly net inflows of $3.9 billion into US-based spot Bitcoin ETFs.

While institutional adoption continues to accelerate, on-chain data shows that market dynamics are not particularly optimistic. According to Glassnode's "Accumulation Trend Score" (Accumulation Trend Score) data, a distribution trend is emerging among large investor groups. Addresses holding between 10 and 10,000 BTC are trading in a volatile manner, while whales holding over 10,000 BTC and small investors are in a net selling position.
During the January-April 2025 period, a sales-weighted table was observed across all wallet groups, while in April, with Bitcoin recovering from the level of 76 thousand dollars, accumulation had resumed. However, current data shows that the market has entered another stagnation phase.
At the time the news was written, BTC is trading at a level of 106,937 dollars.