Deteriorating bitcoin supply and demand began before Strategy sold, and there are still no clear signs of recovery, an analysis said. Wintermute, a crypto trading and market-making firm, pointed to U.S. institutional outflows and net withdrawals from spot bitcoin ETFs as key drivers of the recent slump. It said Strategy’s sale was small but hurt sentiment. Wintermute also cited macro headwinds and weaker AI-related stocks, and said long-term buyers were accumulating but it was too early to call a bottom.

With the June 3 local elections over, attention in South Korea’s financial sector is shifting back to financial authorities and the National Assembly. Issues that lost traction during the campaign, including governance reform at financial holding firms, digital asset regulation, loan rules for non-resident single-homeowners and a compensation liability system for voice phishing, may return to the agenda in the second half. Regulators have also adjusted ELS sanctions and stepped up work on consumer protection and AI security threats.