Bitcoin was trading at around $63,000 Monday. clawing back from a two-month low hit on June 5 as a confluence of headwinds — spot ETF outflows, macro uncertainty, and capital rotation into artificial intelligence stocks — pushed the world’s largest cryptocurrency roughly 50% below its all-time high The $126 279 will be reached by October 2025.
Capitulation is a familiar reaction to the recent decline. Retail investors have mostly stepped aside, and headlines in the mainstream have played on fear. A growing number of voices from the institutional sector are pushing back.
According to a Monday report by Wall Street brokerage Bernstein, Bitcoin’s future is bright. “store of value” The thesis remains unchanged despite the fact that net flows into Bitcoin spot exchange-traded fund and corporate Treasury companies in 2026 have dropped sharply to only $12 billion, down from 60 billion dollars in 2025.
The firm attributed the bulk of selling pressure not to ETF holders, but to corporate treasury companies liquidating positions — with spot ETFs recording only about $2.6 billion in net outflows year-to-date.
“Bitcoin being boring this cycle should not be held against it,” Bernstein added that the slowdown of retail momentum did not undermine Bitcoin’s structural ownership.
The brokerage’s report highlighted that 61% of Bitcoin’s circulating supply has not moved in more than a year — a figure that points to a base of holders unwilling to sell at current prices.
Bernstein maintains that a price target of $150,000 Bitcoin will be the most popular cryptocurrency in 2026. This is due to a shift of investor interest from individuals and small businesses towards institutions such as pension funds, wealth management platforms, sovereign wealth funds, etc.
The early 2026 features that the firm described previously is now available. “weakest bear case” In Bitcoin’s past, it is argued that the recent downturn in crypto prices can be attributed to a growing acceptance of Bitcoin by banks and large investment firms.
While retail stores are fading away, institutions continue to accumulate Bitcoin
There are several sources of pressure that will affect prices in the near term. Capital has rotated The AI market has been booming, as hundreds of billions have flowed into large technology firms and hyperscalers in the last few months.
According to analysts who track the reallocation, SpaceX’s IPO scheduled for 12 June on Nasdaq, with a target valuation of between 1,75 Trillion and 2 Trillion, is attracting retail investors away from digital asset. The Bitcoin sales by Strategy have increased the selling pressure on the market.
On the legislative front, the CLARITY Act — a comprehensive digital asset market structure bill that would divide regulatory authority between the SEC and the CFTC — cleared the Senate Banking Committee in May by a 15-9 vote.
Last July, the bill was passed by the House with a vote of 294 to 134. The final passage of this bill into law may resolve the years of regulatory uncertainties that have kept institutional capital on the margins of the market.
Ben Lilly is a senior crypto analyst with Brownstone Research. drew a direct parallel to the bear market of 2022, when BlackRock launched a private Bitcoin trust in August of that year at the depth of the downturn — a move that preceded the most successful ETF launch in history, BlackRock’s spot Bitcoin ETF (IBIT), which reached $80 billion in assets under management five times faster than the previous record holder, Vanguard’s S&P 500 ETF.
Lilly said that the same strategy is being used again. Institutions are growing while retail shrinks.
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Source: bitcoinmagazine.com
