Investment bank Bernstein's research report points out that despite approximately $2.6 billion in net outflows from U.S. spot Bitcoin ETFs since 2026, Bitcoin's total net inflows still reach around $12 billion, primarily driven by corporate reserve demand. Analysts believe that Bitcoin's performance in this cycle has been relatively subdued, with retail funds shifting to the AI sector, but this hasn't weakened its long-term value storage logic. Bernstein cited Glassnode data, stating that about 61% of circulating Bitcoin has not moved for over a year. (The Block) https://(wublock123.com)/news/bitcoin-etf-2-6b-net-outflow-btc-12b-net-inflow-62403