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Crypto

Bitcoin Slumps Amid Selling Pressure, Despite Revived Institutional Interest

Guavy AI Editorial Team
Instruments
BTC
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Bitcoin (BTC) continues to trade under pressure, down 2.07% in the last session at $63,029.

The asset's price action is mid-range amid subdued intraday volatility, with Bitcoin sitting below its key moving averages.

US spot Bitcoin ETFs saw a significant influx of $233.1 million on July 31, led by BlackRock's iShares Bitcoin Trust contributing $183.4 million in net inflows.

The SEC approved a rule change allowing a 15% NAV buffer for non-eligible assets in Bitcoin ETFs, opening regulatory doors to more complex yield products.

Despite these developments indicating renewed institutional interest, the price remains under broader selling pressure.

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