Fidelity Bitcoin ETF Sees $43M Outflow as Local Stress Indicator Hits Elevated Risk

The Fidelity Bitcoin ETF posted $43.1 million in outflows on July 29, while BlackRock's IBIT attracted $89.8 million in inflows.

Bitcoin was trading around $64.6k at the time of the rate decision by the US Federal Reserve, which kept interest rates unchanged at 3.50%-3.75%.

The recent outflows have been seen as temporary de-risking ahead of the Fed's decision, and with a higher chance of a rate hike in September, according to the FedWatch Tool.

Axel Adler Jr.'s local stress indicator, which captures market stress through derivatives, exchange flows, and price movement, showed elevated risk on July 28, but still remained in 'Calm' territory overall.