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Bitcoin nears $64,000 as spot bitcoin ETF outflows persist

CoinDesk says spot bitcoin ETFs saw about $4.5 billion of outflows in June, one of their worst months since launch.

Reported · Written up by our desk · Market Structure

Bitcoin is trading near a key technical threshold of $64,000 as investors weigh relative performance versus gold and the prospects for crypto inflows.

CoinDesk reports that spot bitcoin funds posted about $95 million in losses on Thursday, while ether funds saw roughly $52 million in outflows, even as prices rallied.

The outlet also points to the broader institutional flow picture, noting spot bitcoin ETFs lost about $4.5 billion in June, among their worst month since launch.

On the relative value front, the bitcoin-to-gold ratio stood at about 15.67, which implies one bitcoin was worth roughly 15.67 ounces of gold. CoinDesk adds that since the ratio bottomed in February, bitcoin has gained 28% versus gold, with a next level cited around 16.0.

Latest closeGold $4,134.80 ▲2.4%|Bitcoin $64,765.97 ▲1.3%

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