Outflows from US-listed Bitcoin ETFs continue. According to Farside Investors data, these products have seen net outflows for four consecutive trading days, totaling approximately $526 million. However, over a longer period, the cumulative net inflows into these ETFs are still approximately $51.3 billion, indicating that the overall funding base has not yet been reversed.
Approximately $526 million flowed out over four trading days.
In the most recent round of outflows, the largest withdrawals occurred on July 24th and July 23rd, with daily withdrawals of approximately $240 million and $225 million respectively. On the latest trading day, investors withdrew another approximately $49.7 million from related products.
This means that after attracting nearly $1 billion in inflows over the previous seven consecutive trading days, the flow of funds into the spot Bitcoin ETF has weakened again. The fluctuating short-term investor sentiment reflects the market's continued caution around current price levels.
BTC rebounded after falling below $63,000
In terms of price, Bitcoin has experienced significant volatility over the past 24 hours. BTC traded around $63,500 at one point before falling below $63,000, with an intraday low of approximately $62,850, marking its lowest level since July 17.
Buying subsequently rebounded, pushing the price back above $64,000 and briefly approaching $64,700. CoinCodex data shows that at the time of writing, BTC was trading at approximately $64,624, up 2.7% over the past 7 days.
However, BTC's ability to sustain its gains above $65,000 remains insufficient, indicating that while a rebound has occurred, the resistance above has not yet eased significantly.
Spot trading volume has fallen significantly from last year's high.
In addition to changes in ETF funds, spot market activity has also declined. CryptoQuant community analyst Darkfost stated that for Bitcoin to re-enter a more sustained upward phase, it still needs stronger demand and a better overall market environment.
He noted that spot Bitcoin trading volume on major exchanges has declined significantly compared to the end of 2024. For example, on Binance, spot Bitcoin trading volume was approximately $35 billion in July, compared to approximately $246 billion in November 2024.
The simultaneous occurrence of capital outflows, price rebounds, and weakening trading volume indicates that the current market is not in a one-sided trend and is still in a phase of capital repricing in the short term.
