TLDR:
- Bitcoin ETFs recorded $225.2 million in net outflows, ending seven consecutive trading sessions that attracted nearly $1 billion.
- The funds still held about $274 million in weekly net inflows through Thursday despite the sharp reversal in daily flows.
- Bitcoin briefly fell to $64,600 as US equities weakened amid renewed geopolitical tension between the United States and Iran.
- ETF buying has supported Bitcoin, but a negative Coinbase Premium and the $69,000 cost basis signal continued professional caution.
US-listed Bitcoin ETFs recorded $225.2 million in net outflows on Thursday, ending their longest positive streak in several weeks. The funds had attracted nearly $1 billion across seven consecutive trading sessions since July 14.
The reversal arrived as Bitcoin briefly dropped below $65,000 following weakness across US equity markets. Renewed tension between the United States and Iran also pressured broader risk sentiment.
Bitcoin fell as low as $64,600 before recovering near $65,400. Despite the daily withdrawal, spot Bitcoin ETFs still held about $274 million in weekly net inflows through Thursday.
Market sentiment also weakened. The Crypto Fear and Greed Index fell three points to 28 on Friday, keeping the measure firmly inside its fear category.
Bitcoin ETFs End Seven-Day Run With $225M Exit
The seven-session streak delivered about $981.2 million in net inflows, according to figures cited by Santiment. It marked the longest sustained positive run in roughly 11 weeks.
Daily demand accelerated early in the period before losing momentum. Funds received $181.08 million on July 14 and $107.80 million one day later.
Inflows slowed to $79.15 million on July 16 before rising to $132.30 million on July 17. The strongest sessions came on July 20 and July 21.
Those two days attracted $226.92 million and $203.14 million, respectively. Bitcoin climbed above $66,000 as investors tracked progress around US crypto market legislation.
Daily inflows then declined to $68.99 million on July 22. The weaker figure preceded Thursday’s $225.2 million withdrawal and suggested institutional demand was already cooling.
BlackRock’s IBIT remained the dominant fund during the positive stretch. It attracted $319.16 million of the roughly $499.05 million added earlier this week.
IBIT also reportedly accounted for almost 79% of the $1.11 billion in total spot Bitcoin ETF trading volume on July 22. Its scale gives BlackRock a clear distribution advantage among advisers and large asset managers.
Grayscale’s GBTC continues to offset part of that demand. The fund has recorded about $27.42 billion in cumulative withdrawals since converting into a spot ETF.
Its 1.5% annual fee remains far above IBIT’s 0.25% charge. That difference encourages some long-term holders to move toward cheaper products.
Bitcoin ETF Demand Faces a Critical $69K Test
Bitcoin ETFs have helped absorb market supply, but other indicators show weaker demand among professional traders. The Coinbase Premium Index has stayed negative for more than 900 cumulative hours.
A negative reading indicates softer Bitcoin demand on Coinbase compared with Binance. Coinbase activity often reflects participation from US institutions and professional trading desks.
The divergence suggests ETF inflows supported prices without broad confirmation from the spot market. Thursday’s outflow increases that risk as Bitcoin trades close to an important support region.
Glassnode identifies the short-term holder cost basis near $69,000 as the next key level. Bitcoin must recover that area to strengthen the current rebound structure.
A sustained move above $69,000 could create room toward $84,000, based on Glassnode’s market framework. Another rejection could return Bitcoin toward the $63,000 demand zone.
Meanwhile, US spot Ether ETFs extended their own inflow streak to five sessions. The products attracted $26.3 million on Thursday, while Bitcoin funds moved sharply into negative territory.
