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Bitcoin's monthly rise in June hit a new low for the year, as Whale Large Investors' selling offset ETF inflows.
PANews reported on June 27, according to CoinDesk, that Bitcoin's monthly rise in June was only about 2%, the lowest since July of last year. Despite a net inflow of $3.9 billion into U.S. spot ETFs for several consecutive weeks, whale large investors and small holders are inclined to sell, leading the market into a consolidation phase. On-chain data shows that profit-taking behavior has slowed down, and the current market sentiment is leaning towards a wait-and-see approach.