Market Performance and Capital Outflows
Bitcoin fell approximately 30% in the first half of 2026 and broke below $60,000 in June, recording the largest monthly net outflow since the launch of ETFs, totaling $4.06 billion. Short-term market sentiment remains under pressure, but some institutions still see long-term potential.
Divergent Institutional Views
Standard Chartered maintains its year-end target of $100,000, viewing the correction as a buying opportunity. Bernstein holds an even more optimistic forecast of $150,000. Institutional capital flows show clear divergence: hedge funds and brokerages have significantly reduced positions, while JPMorgan, Wells Fargo, and the Abu Dhabi sovereign wealth fund have increased holdings against the trend, indicating a stark contrast between short-term and long-term investors.