Bitcoin ETF Outflows Hit $385M as Bitcoin Price Holds Near $63K
Key Insights
- Bitcoin ETF products recorded $385.2 million in net outflows during the latest week.
- Fidelity led withdrawals as several major U.S. spot funds recorded net redemptions.
- Bitcoin price remained range-bound near $63,500 as spot trading activity weakened.
U.S. spot Bitcoin ETF products recorded $385.2 million in weekly net outflows through Aug. 14.
Farside Investors data showed withdrawals across several major funds after strong inflows during early August. Bitcoin traded near $63,500 as ETF demand and broader spot activity remained subdued.
The reversal removed one source of Bitcoin buying pressure. However, the weekly outflows followed $865.3 million of inflows during the previous five trading sessions.
Bitcoin ETF Outflows Reverse Early August Inflows
Farside Investors data showed daily outflows on four of five sessions from Aug. 10 through Aug. 14. Monday produced $144.6 million in redemptions, while Wednesday lost another $61.1 million. Thursday then recorded $131.1 million in outflows before Friday added $56.2 million.
โฆ Continue reading the full article at the original source below.
