Bitcoin fell approximately 30% in the first half of 2026, breaking below $60,000 in June. Spot Bitcoin ETFs recorded a record monthly net outflow of $4.06 billion. Standard Chartered maintains its year-end target of $100,000, viewing the pullback as a buying opportunity, while Bernstein holds a more optimistic $150,000 target. Institutional fund flows show divergence: hedge funds and brokers reduced exposure, whereas JPMorgan, Wells Fargo, and the Abu Dhabi sovereign wealth fund increased holdings.
Market Performance: Record ETF Outflows
Bitcoin fell roughly 30% in the first half of 2026, slipping below the $60,000 level in June. Spot Bitcoin ETFs recorded their largest single-month net outflow since inception, totaling $4.06 billion, indicating extremely bearish short-term sentiment.
Institutional Views: Standard Chartered Sees $100K, Bernstein $150K
Despite the correction, Standard Chartered maintains its year-end target of $100,000, calling the pullback a buying opportunity. Bernstein is even more optimistic with a $150,000 target, arguing that the long-term trend remains intact.
Fund Flows: Clear Divergence Among Institutions
Hedge funds and brokerages have significantly reduced their bitcoin exposure recently, while JPMorgan, Wells Fargo, and the Abu Dhabi sovereign wealth fund have increased their positions. This divergence highlights differing outlooks among various institutional investors.
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