Bitcoin Price Pressured by ETF Outflows and Fading CLARITY Act Hopes

The price of Bitcoin has been under pressure for four consecutive days due to concerns over ongoing ETF outflows and the declining chances that the CLARITY Act will be signed into law this year. The BTC/USD pair was trading at 63,400, down from its monthly high of 65,330.

ETF inflows have been dwindling, with these funds shedding over $100 million in assets this week after adding $853 million last week. This decline in demand for spot Bitcoin ETFs is likely a sign that institutional and retail investors are losing interest.

Strategy has paused buying BTC and started selling coins worth over $108 million last week, continuing a trend it began last month when the value of its preferred shares dropped.