Bitcoin ETFs Suffer Heavy Outflows as BTC Struggles Above $65K

Bitcoin exchange-traded funds (ETFs) have seen four consecutive sessions of outflows totaling $526 million. This comes after Bitcoin failed to hold above $65,000.

The largest withdrawals occurred on July 24 and July 23, with about $240 million and $225 million leaving the ETFs, respectively. The total net assets of these ETFs stand at $77.2 billion as of July 28.

CryptoQuant community analyst Darkfost believes that for Bitcoin to return to a bullish trend, renewed demand and improving market conditions are necessary. He points out that spot volumes on major exchanges have fallen sharply from late 2024 levels, with Binance recording $35 billion in July spot volume compared to $246 billion in November 2024.

Bitcoin is currently trading at $64,371, up 2.7% over the past seven days, according to CoinGecko data. It briefly dropped as low as $63,100 on Thursday, marking its lowest level since July 17.