Executive summary
Bitcoin enters the new week with a relief bid, not a clean recovery. From June 8 to June 12, U.S. spot Bitcoin ETFs recorded $316 million in net outflows, a sharp improvement from the prior week’s $1.72 billion redemption wave, though still a continuation of negative institutional flow. Ethereum ETFs saw $15 million in outflows, while XRP and HYPE products attracted $11 million and $6 million, respectively.
BTC has reclaimed the $65,000 level after President Trump announced a completed peace deal with Iran, the reopening of the Strait of Hormuz, and the end of the U.S. naval blockade. Oil fell roughly 4% on the headline, easing one of the market’s most persistent inflation shocks. Beneath the bounce, the tape remains fragile: spot Bitcoin ETF trading volume is down 78% from its peak, DAT company trading volume has fallen 49%, mining difficulty just posted one of its largest downward adjustments of the year, and Galaxy Research warns that only 4 of 13 historical bottom signals have triggered. The market has stabilized, but it has not yet proven that the bottom is in.
