Bitcoin Spot ETFs See Two-Day Outflows After Seven-Day Inflow Run

Bitcoin spot exchange-traded funds (ETFs) have experienced net outflows for two consecutive days, bringing an end to a seven-day streak of inflows. According to data compiled by Farside Investors, $240 million left the products on July 25 and $225 million the next day.

The outflows were largely driven by BlackRock's IBIT, which saw nearly $415 million in withdrawals over two days. This is a significant reversal from just last week when inflows peaked at $227 million on July 20 alone.

Macroeconomic uncertainty and inflation worries have been cited as contributing factors to the outflows. The recent tension between the United States and Iran has pushed oil above $100 a barrel, sparking concerns about inflation and interest rates.

Analysts are mixed in their views on the current market sentiment. Tim Sun from HashKey notes that institutions may be moving to a 'strategic phased allocation of funds' near a temporary price bottom, but this does not necessarily indicate a sustained uptrend.