Crypto
Home›Crypto›Market Structure›Bitcoin nears $64,000 as spot bitcoin ETF outflows per…
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.
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 $4,131.40 ▲1.5%|Bitcoin $63,968.27 ▲1.2%