Bitcoin Spot ETFs Hit Record Low Inflows Amid Slowing Demand

Bitcoin spot exchange-traded funds (ETFs) recorded their weakest monthly inflow total since launching in 2024, at $205 million for July. This marks a recovery from outflows of $2.43 billion in May and $4.52 billion in June. The price of Bitcoin (BTC) held steady around the $65,000 mark on Thursday, despite slowing demand.

The uptick in inflows may be attributed to U.S. equities moving higher following strong results from Microsoft (MSFT). However, retail sentiment around BTC remains in 'bearish' territory over the past day, according to Stocktwits. Bitcoin's price has fallen approximately 26% so far this year and is trading nearly 50% below its record high of over $126,000 seen in October last year.