Five-Day Drought Ends: Bitcoin ETFs Sip $85.85M While SpaceX Throws a $75B IPO Party Next Door 🚀

U.S. Spot Bitcoin ETFs recorded a net inflow of $85.85 million on June 12, snapping a five-session streak of outflows and marking the largest single-day intake in roughly four weeks, according to SoSoValue data cited in industry reports. The reversal arrived the same day SpaceX began trading on the Nasdaq under the ticker $SPCX, with shares priced at $135, opening at $150, and closing near $161 in what was reported as the largest IPO on record, raising about $75 billion at a $1.7 trillion valuation. Cumulative net inflows into Bitcoin ETFs now stand at $53.62 billion, with total net assets near $79.65 billion. Prior to June 12, the funds had shed money for 13 straight sessions from May 15 to June 3, the longest outflow streak since launch in early 2024, draining roughly $727 million over the broader stretch.

At press time, $BTC traded at $63,868, up 0.17623% over the prior 24 hours, recovering after dipping toward $59,000 amid Middle East tensions. Sentiment shifted on June 11 when President Donald Trump said he had canceled planned U.S. strikes on Iran, citing progress toward a deal. Diplomatic momentum continued on June 13, when Pakistani Prime Minister Shehbaz Sharif wrote on X, "We are closer to a peace deal than ever before. With finalisation likely expected in the next 24 hours, Pakistan is preparing for the electronic signing of the peace deal immediately after, followed by technical level talks next week." Bitcoin is still down roughly 20% over the past month.

On-chain and derivatives data point to a build-up of bullish positioning. A newly created wallet withdrew 328 BTC, worth $20.08 million, from Binance, according to crypto transaction tracker Onchain Lens on X. Bitcoin's Long/Short Ratio climbed to 1.03, and the OI-Weighted Funding Rate turned positive at +0.0068%, per CoinGlass. Two major liquidation clusters sit at $63,029 and $64,415, where traders have built $315 million in long-leveraged positions and $305 million in short-leveraged positions. The $63,900 level has capped $BTC for nine trading days, and a daily close above $64,000 would be watched as a technical trigger.

Broader flows told a more mixed story. For the week of June 8–12, Spot Bitcoin ETFs saw $85.9 million in inflows against $405.2 million in outflows, with BlackRock's IBIT recording $443 million in weekly outflows before adding $88 million across the final two sessions. Spot $ETH ETFs posted $82.4 million in weekly inflows against $405.2 million in outflows, while $ETH climbed from $1,600 toward $1,700. Bitcoin DATs rose 1.7% over the prior month to 1,897,004 BTC, valued at $124.52 billion, and $ETH DATs climbed 4.9% to 7,555,329 ETH, worth $7.99 billion. The Spot $SOL ETF saw $4.4 million in outflows against $0.8 million in inflows for the week, while the $XRP ETF drew $10.68 million and the $HYPE ETF took in $5.87 million. Attention now shifts to the Federal Reserve's June 16–17 meeting.