Bitcoin ETF Outflows Hit Three-Day Streak Amid Cooling Institutional Demand

U.S. Bitcoin ETFs have seen three consecutive days of net outflows, totaling $57.6 million on August 14.

This is according to SoSoValue data, which suggests that institutional demand for Bitcoin may be cooling off at least temporarily.

The significance of this trend lies not in the absolute figure, but rather in its consistency over three days.

For Indian traders, the price of BTC-INR depends on both the dollar price of Bitcoin and the USD/INR exchange rate.

A weaker rupee could potentially cushion any losses Bitcoin may incur due to ETF outflows, as it would make the cryptocurrency cheaper in INR terms.