K33 Warns Bitcoin Faces 'Turbulent Summer' as Capital Chases AI Stocks, Spot ETFs See 62,794 BTC Outflow in 3 Weeks

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According to K33 Research, on June 3, the firm warned Bitcoin faces a "turbulent summer" as institutional capital flows toward artificial intelligence stocks. K33 Research head Vetle Lunde attributed the weakness to declining institutional demand, significant exchange-traded fund outflows, and growing fragility in derivatives markets. Spot Bitcoin ETFs saw 62,794 BTC withdrawn over the past three weeks, marking the second-largest consecutive outflow on record. Lunde noted that external capital is unwilling to enter the market while existing holders are reducing exposure, while Bitcoin failed to reclaim its 200-day moving average despite the Nasdaq and S&P 500 reaching new highs. The firm warned that leveraged long positions are accumulating in a weakening market, creating potential selling pressure ahead.
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