"The pattern since May has been remarkably one-sided. Every attempt to rebuild buying momentum has stalled almost immediately," said Ecoinometrics, a BTC-focused analysis platform.
These continuous outflows complicate the case for a swift return to peak prices, indicating that regulated access alone is no longer sufficient to sustain upward momentum.
Despite the substantial outflows, institutional interest has not completely disappeared.
A January 2026 survey by Coinbase and EY-Parthenon of 351 institutional decision-makers found that nearly three-quarters planned to increase crypto allocations, while 74% expected crypto prices to rise over the following 12 months.
The same survey found that 49% had placed greater emphasis on risk management, liquidity, and position sizing.
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Furthermore, 66% of respondents already had exposure through spot crypto ETFs or exchange-traded products, while 81% preferred spot exposure through a registered vehicle.
