Strong institutional appetite for Bitcoin contrasts with derivatives markets:

Cryptocurrency traders are known for emotional swings, often selling in panic during uncertainty or showing excessive optimism in bull markets. The current weakness in Bitcoin derivatives suggests traders are not confident that the $100,000 support will hold.

Interestingly, institutional investor demand has remained strong during this period. US-listed Bitcoin spot exchange-traded funds (ETFs) recorded $5.14 billion in net inflows over the 30 days ending June 18. Additionally, firms such as Strategy, Metaplanet, H100 Group, and The Blockchain Group acquired significant quantities of BTC during that time.

It remains uncertain what might restore confidence among Bitcoin traders. However, the longer BTC price stays near the $100,000 psychological level, the more confident the bears will become.

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