Bitcoin Pulls Back as Spot ETF Flows Turn Negative

The price of Bitcoin has pulled back from its recent high near $65,760 to trade in the $64,000 range. The move comes as U.S. spot Bitcoin ETFs recorded a net outflow of approximately $240.1 million on July 24.

The outflow was led by BlackRock's IBIT, which shed roughly $212.17 million, followed by Fidelity's FBTC at approximately $27.91 million in outflows. While the single-day figure is notable, it remains well short of the sector's more extreme historical swings.

The broader market sentiment has also cooled back into 'Fear' territory, according to the Crypto Fear & Greed Index, which reads around 27 today. This comes as the crypto market cap sits at approximately $2.28 trillion, down about 1.1% over the past 24 hours.