BITCOIN FACES 20-MONTH LOW IN VOLATILITY AND MONTHLY TRANSACTIONS

Summary from the TLDR Crypto newsletter

Bitcoin's implied volatility and monthly transactions have dropped to their lowest levels since October 2023, signaling a cooldown in onchain activity. June saw a 15% decline in transactions month-over-month, with miners picking up low-fee transactions buried in the mempool. Despite the lull, demand from U.S. spot ETFs has surged, with cumulative net inflows nearing $50 billion and holdings topping $137.6 billion. Public companies also added 65,000 BTC in June, underscoring a shift toward institutional dominance amid retail apathy.