00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Bitcoin faces pressure as key institutional demand sources weaken, according to Bloomberg.
00:08U.S.-listed spot Bitcoin ETFs are on track for their worst month of withdrawals since
00:13launching in January 2024, with investors pulling more than $4.1 billion from 13 funds in June.
00:21BlackRock's iBit accounted for roughly $3 billion of the outflows.
00:24Bitcoin has fallen more than 18% this month and remains near $60,000 after breaking below
00:31that level last week.
00:32The withdrawals mark a shift from prior corrections, when ETF investors bought during sell-offs.
00:38Strategy faces scrutiny after Bitcoin's decline pressured its financing model, prompting the
00:43company to authorize potential Bitcoin sales and approve buybacks.
00:47Bitcoin's market structure has shifted as ETF buyers retreat.
00:51Strategy preserves financial flexibility, and the market searches for a new source of
00:55demand.
00:56For all things money, visit Benzinga.com.
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