Bitcoin Price Slips Amid ETF Outflows, Regulatory Delays

Bitcoin's price took a hit last week, closing down 2.7% at around $62,990. This decline coincided with outflows from spot Bitcoin ETFs, which had previously seen strong inflows. Meanwhile, XRP briefly fell below $1 due to an exploit on a cross-chain bridge.

Despite stable prices overall, significant structural shifts are underway in the crypto market. Goldman Sachs has agreed to acquire NEOS Investments, gaining access to crypto income ETFs. Bitcoin miners like Riot Platforms have been selling BTC to fund AI data centers amid unprofitable mining conditions. Additionally, US crypto regulatory progress has been delayed until September.

The crypto market remains range-bound with low volatility, driven mainly by ETF flows rather than inflation data. Regulatory clarity and miner selling pressure are key factors to watch in the coming weeks.