Bitcoin Fails to Rally on Inflation Data, Spot ETFs Post Largest Weekly Outflow

Bitcoin's price slipped after the latest U.S. inflation reading failed to act as a bullish catalyst, despite landing in line with expectations.

The largest cryptocurrency fell short of sparking fresh buying, instead triggering unwinding from traders who had already priced in a favorable outcome.

Spot Bitcoin exchange-traded funds (ETFs) recorded their first back-to-back days of net outflows in August, losing $389.71 million over the past week.

This marks the largest weekly withdrawal among major crypto investment products and raises concerns about institutional demand.

However, select altcoin products bucked the trend, with Solana ETFs attracting $10.26 million in net inflows, XRP ETFs adding $2.25 million, and HYPE, LINK, and HBAR funds recording positive flows.