Bitcoin ETFs extend four-session outflow streak as BTC slides below $65K
In brief
- Bitcoin ETFs recorded $526 million in net outflows across four consecutive trading sessions
- Bitcoin dropped to $63,100 on Thursday, its lowest level since July 17
- Cumulative net inflows for Bitcoin ETFs remain at $51.3 billion with $77.2 billion in total net assets
- Bitcoin spot trading volumes fell sharply from $246 billion in November to $35 billion in July
Outflow Acceleration
US-listed spot Bitcoin ETFs extended their outflow streak to four consecutive trading sessions as Bitcoin briefly fell to $63,100 on Thursday, marking its lowest level since July 17. Investors withdrew about $49.8 million in the most recent session. Despite the outflow streak, cumulative net inflows for Bitcoin ETFs remained at $51.3 billion as of July 28, with total net assets standing at $77.2 billion.
The reversal followed a strong inflow period. The outflows came after a seven-day inflow streak that brought in nearly $1 billion, highlighting the volatility in institutional Bitcoin positioning over recent weeks.
Volume Decline and Market Sentiment
Bitcoin spot volumes on major exchanges have fallen sharply from late 2024 levels. Binance recorded approximately $35 billion in July spot volume compared with $246 billion in November 2024, reflecting a significant contraction in trading activity. At the time of publication, Bitcoin was trading at $64,371, up 2.7% over the past seven days.
"Bitcoin's return to a bullish trend would require renewed demand and improving market conditions." — Darkfost, CryptoQuant community analyst
The analyst's assessment underscores the broader challenge facing Bitcoin as it navigates reduced trading volumes and shifting institutional sentiment. Sustained recovery will depend on whether fresh capital enters the market and broader market conditions stabilize.
