Bitcoin Price Hit by $225M ETF Outflow Amid Geopolitical Tensions
The Bitcoin market has seen a significant shift in investor sentiment following a $225.2 million outflow from U.S. spot Bitcoin ETFs on July 24.
This marked the end of a seven-day inflow streak, indicating a change in market dynamics that could impact Bitcoin's short-term price trajectory.
The primary cause of this outflow was BlackRock's IBIT fund, which saw $202.5 million withdrawn.
This reflects heightened risk aversion among investors amid escalating geopolitical tensions between the U.S. and Iran.
Rising oil prices and inflation concerns have contributed to increased uncertainty in financial markets, causing Bitcoin to hover around $64,300 as buyers exhibit caution.