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Bitcoin Price Tumbles to $63K as 228K BTC Floods Binance and ETFs Bleed $332M

Guavy AI Editorial Team
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The Bitcoin price has dropped to $63,038 on August 14, marking a loss of 0.61% and breaking its daily trendline. According to Ash Crypto, a similar break in the past led to a 20% drop in price.

Around 228K BTC moved into Binance deposit addresses, a level that analyst Anup Dhungana notes has not been seen since the last cycle bottom.

Spot Bitcoin ETFs have also experienced significant outflows, posting $131.13M in daily outflows on August 13 and flipping the week to -$332.08M after the best week since May.

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