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Bitcoin lags as equities hit records, with ETF outflows and USDC flat

CoinDesk reports US spot bitcoin ETFs saw $5.4 billion in net outflows in the first half of the year, while derivatives activity remains subdued in bitcoin and ether.

Reported · Written up by our desk · Market Structure

Bitcoin is trading little changed near $64,000 while broader global equities hit record highs, a pattern that points to crypto specific weakness rather than a synchronized move with risk assets, according to CoinDesk.

CoinDesk Data derivatives show subdued activity in bitcoin and ether, while traders have taken more aggressive positions in select altcoins. A sharp $4 billion, 60 day contraction in Tether’s market value also signals capital leaving crypto, with a durable bottom tied to USDT supply starting to rise again.

The divergence comes as MSCI’s All Country World Index climbed 0.4% toward another record close, and Asia Pacific shares gained 2.2%. In the U.S., the CoinDesk 20 is unchanged since midnight UTC, with 11 components higher and nine lower.

CoinDesk also cites ongoing fund flow pressure, noting U.S. spot bitcoin ETFs recorded $5.4 billion of net outflows in the first half of the year as investors rotated into AI linked assets. CoinDesk adds that Circle, issuer of USDC, reported second quarter revenue growth of 7% year over year to $701 million, which fell short of estimates as Bloomberg reported, and more crypto earnings are due including Galaxy Digital, while Riot Platforms delayed its report for an unspecified period.

Latest closeBitcoin $64,170.04 ▲0.2%

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