Bitcoin is trading around 105,938 USDC, up 0.86% over the past 24 hours. Spot ETF inflows have remained strong over several consecutive days. Between June 13 and June 18, total daily net inflows ranged from 216 million to 433 million dollars, reflecting sustained institutional positioning. The dominant contributor remains IBIT, which brought in 278.9 million on June 18 alone. GBTC continues to show minor outflows, with -16.4 million recorded the same day, indicating that the internal rotation out of legacy trust products is slowing.
On the margin side, there was a notable spike in isolated borrow activity around 03:00, which has since normalized. The long-short ratio is rising toward 42, suggesting a growing bias toward leveraged long positions. However, margin debt growth remains cyclical rather than impulsive. On the money flow side, large wallets have shown consistent outflows, with five-day cumulative net outflow at roughly -935 BTC. While ETFs are absorbing capital, whales are reducing exposure at the same time.
The money flow analysis by order size shows slightly more aggressive buying across all levels. Large buy orders outpace sell orders, but not significantly. Net inflow for the last 24 hours remains negative, about -90 BTC, indicating that ongoing buying is being funded by internal rotation rather than new capital entering the market.
Technically, RSI(6), RSI(12), and RSI(24) are hovering in the neutral zone between 50 and 54, which suggests no immediate overbought or oversold conditions. The MACD remains in negative territory with shrinking histogram bars, pointing to a weakening bearish momentum but no reversal yet. StochRSI is at 18.28, approaching oversold territory but not yet signaling a clear entry.
In summary, spot ETF demand is supporting price structurally. Margin data shows growing long positioning, but the broader technical setup remains indecisive. Large wallet outflows are a counterweight to ETF-driven accumulation. This is not a breakout setup, but rather a phase of structural stability. The key variable going forward will be whether ETF inflows remain persistent throughout the week.
