Bitcoin Stuck at $63K as ETF Outflows and Inflation Weigh on Price

Bitcoin's price has been struggling to break through the $65,000 barrier, and it may face a further decline to $62.8K.

The recent failure of Bitcoin to hold above $65,000 has left its price near $63,000, down about 1.6% over the past seven days, according to CoinGecko data.

The US spot Bitcoin ETFs have been experiencing outflows, with a net total of $131 million on August 13, led by ARK 21Shares' ARKB with $58.8 million in net outflows.

Despite some relief from the softer inflation numbers, which reduced immediate pressure on the Federal Reserve to tighten monetary policy, Bitcoin's price has remained unable to establish itself above $64,000.