Bitcoin ETFs Snap Seven-Day Inflow Streak Amid Iran Tensions
Bitcoin ETFs experienced their first negative day in more than a week, posting $225.2 million in net outflows on July 23.
The funds had previously seen a seven-day streak of inflows that totaled nearly $1 billion before the sudden reversal.
BlackRock's IBIT accounted for the majority of the exit at $202.5 million, while Morgan Stanley's MSBT was the only Bitcoin fund to add money, taking in $5 million.
The timing of the outflows coincided with a decline in the US stock market due to ongoing tensions between the US and Iran, which caused oil prices to rise.
Bitcoin briefly dipped below the psychologically important $65,000 mark, touching $64,600 before rebounding. The Crypto Fear & Greed Index dropped three points to 28 on Thursday, remaining firmly in 'fear' territory.