US-listed spot Bitcoin ETFs recorded another $49.7 million in outflows, extending their losing streak to four consecutive sessions. Over this period, investors pulled out around $526 million, with the heaviest withdrawals happening on July 23 and 24, totaling nearly $465 million combined, according to Farside Investors.
Despite these recent outflows, spot Bitcoin ETFs still boast total net inflows exceeding $51 billion. The selling pressure came after a strong seven-day inflow run that brought in close to $1 billion.
Bitcoin Price Bounces after Dipping Below $63,000
Bitcoin’s price showed sharp swings in the last 24 hours. After slipping to an intraday low near $62,850, BTC rebounded to above $64,000 and hovered around $64,624 at press time, up about 2.7% over the past week. Buyers appeared to step in as BTC hit its lowest level since mid-July, but the cryptocurrency still struggles to break past the significant $65,000 resistance.
Market watchers note that for Bitcoin to regain a solid upward trajectory, stronger demand and better market conditions are essential. Spot trading volumes have dropped sharply compared to late 2024, with Binance’s Bitcoin spot volume sliding from $246 billion in November 2024 down to approximately $35 billion in July.
This content is for informational purposes and does not constitute financial advice.
