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Spot Bitcoin ETFs see $526 million in outflows as BTC slips below $65K
Four straight sessions of withdrawals brought total outflows to about $526 million, with the biggest outflow days on July 24 and July 23.
US spot Bitcoin exchange-traded funds extended their outflow streak to four consecutive trading sessions, as investors withdrew about $49.8 million while Bitcoin struggled to hold the $65,000 level, according to Cointelegraph. Across the four sessions, net outflows totaled roughly $526 million, with the largest withdrawals occurring on July 24 and July 23, at about $240 million and $225 million, respectively, using SoSoValue data cited by Cointelegraph. Despite the recent selling pressure, Cointelegraph reports cumulative net inflows since earlier periods remained positive at about $51.3 billion, and total net assets stood at about $77.2 billion as of July 28. Cointelegraph also noted that the outflows followed a seven-day inflow streak that had brought in nearly $1 billion, and that CryptoQuant community analyst Darkfost said Bitcoin would need renewed demand and improving market conditions. At the time of publication, Bitcoin was trading around $64,371, up 2.7% over the past seven days, after briefly falling as low as $63,100 on Thursday, its lowest level since July 17.
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