Bitcoin Price Faces Pressure as ETF Outflows Extend to Third Day
Key Insights
- Bitcoin price faced pressure as spot ETF outflows reached $57.63 million.
- Bitcoin supply in profit fell to 51.4%, pointing to deeper holder losses.
- Ether ETFs recorded zero net flows, showing weaker institutional positioning.
Bitcoin price traded near $63,000 as ETF flows and onchain profitability weakened market positioning.
SoSoValue data showed U.S. spot Bitcoin ETFs recorded $57.63 million in net outflows on Aug. 14. The session marked the third consecutive day of withdrawals.
Bitcoin traded around $62,800 to $63,000 during Friday trading. Investopedia reported Bitcoin near $62,500 that morning, while Economic Times placed it at $62,847.
Meanwhile, Bitcoin supply in profit fell to 51.4%, its lowest level in over three years. The reading showed almost half of circulating supply sitting at an unrealized loss.
Ether ETFs recorded zero net flows during the same session, adding another weak institutional demand signal.
Bitcoin Price Pressured as ETF Outflows Center on BlackRock
SoSoValue data shows cumulative Bitcoin ETF net inflows stood at $51.79 billion after the August 14 session. Meanwhile, total trading value across the products reached $1.06 billion during the day.
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