Bitcoin (BTC) saw a 6.7% drop after nearly reaching $72,000 on May 21, settling at $67,100. Despite the decline, BTC remains bullish, just 8.7% below its all-time high. 🧐 Why haven't recent investment flows into Bitcoin ETFs generated more bullish enthusiasm?

The data reveals $1.96 billion in net flows into US Bitcoin ETFs since May 15, equivalent to 64 days of BTC issuance by miners. However, if institutional investors continue to purchase Bitcoin through ETFs and the price continues to decline, selling pressure is likely to come from regular spot markets.

Furthermore, regulatory uncertainty in the United States and legal actions against leading exchanges such as Binance, Coinbase, Kraken, KuCoin and Robinhood, are causing Bitcoin holders to sell above $67,000.

Do you think regulatory uncertainty is affecting the price of Bitcoin? Share your thoughts in the comments! 💬