Live: Bitcoin and ether ETFs lost $111 million combined as rate-cut hopes died
liveUpdated 6 minutes ago
Total market value has held flat near $2.26 trillion since Tuesday, with the recovery losing momentum after the Fed killed rate-cut hopes and spot ETFs swung back to outflows.
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Bitcoin’s largest wallets are buying the dip. Addresses holding 1,000 or more BTC now control about 7.17 million coins, their highest since March 14, according to Santiment.
The accumulation comes as the recovery rally stalls near $64,000, per CoinDesk data, and it cuts against Wednesday’s flows. Spot bitcoin and ether ETFs both posted broad outflows after the Federal Reserve turned hawkish and took rate cuts off the table. Whales are adding while the ETF bid fades.
The move fits a run of accumulation signals this month. Exchange reserves have fallen roughly 80,000 BTC since February as coins move into storage, long-term-holder balances sit near records, and wallets with a history of holding absorbed about 125,000 BTC in the first half of June.
The caveat is that these are accumulation readings, not a guarantee of direction. As a share of total supply, the whale stake near 35.8% still sits below its December peak.
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US spot bitcoin and ether ETFs both turned to outflows on Wednesday in a sign the recovery rally has lost its institutional bid.
Bitcoin funds lost $82 million and ether funds $29 million, SoSoValue data shows. The bitcoin outflow was broad this time, with even BlackRock’s IBIT shedding $31 million and ARKB down $44 million, while every ether fund finished in the red.
The trigger was the Federal Reserve. Kevin Warsh’s first meeting as chair held rates at 3.50% to 3.75% on Wednesday, as expected, but the projections turned hawkish.
The median forecast now sees the policy rate ending 2026 at 3.8%, up from 3.4% in March, and nine of 18 officials penciled in a hike this year. Markets put the odds of an increase as soon as October near 60%. The rate cuts that helped power the bounce are gone.
The price tape stalled with the flows. Total crypto market value has held flat near $2.26 trillion since Tuesday’s close, and bitcoin has eased to about $63,800, mid-range of the climb it built over the past 11 days, per CoinDesk data.
The macro backdrop has flipped. The peace deal that drove the recovery eased inflation fears, but a Fed now leaning toward hikes has replaced the cut bets crypto was counting on.
The next tests are October hike odds and whether the ETF bid returns.
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In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Jun 15, 2026
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.