Bitcoin has lost one of its biggest sources of buying pressure in 2026. US spot Bitcoin ETFs have now seen more money leave than enter this year, with net flows turning negative. What's interesting is that these same ETFs were among the biggest drivers of Bitcoin demand after their launch. But in 2026, they've contributed virtually nothing in net new investment. If Bitcoin can hold up without fresh ETF inflows, imagine what happens when institutional buying picks up again.
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