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Crypto

Bitcoin spot ETFs see $385 million outflow but bitcoin holds $64,000 level

More than $385 million flowed out of bitcoin spot exchange-traded funds (ETFs) last week, but bitcoin held near the $64,000 level with little movement. Investors began pulling money from major spot bitcoin ETFs after an early August rally, reversing the prior week’s inflows of more than $865 million. Middle East tensions and macroeconomic uncertainty weighed on sentiment, with the largest outflows from BlackRock’s IBIT and Fidelity’s WBTC, while a Morgan Stanley fund posted net inflows.

Crypto

Bitcoin spot ETFs see inflows for sixth straight session; macro, Middle East uncertainty persists

New money has flowed into bitcoin spot exchange-traded funds for six straight sessions, helping bitcoin prices rebound. Bitcoin Magazine reported that about $1 billion has entered bitcoin spot ETFs since last Tuesday. Products run by BlackRock, Morgan Stanley and Grayscale took in more than $930 million over the period, according to Farside Investors. Markets remain cautious on direction, citing liquidation, Middle East war and inflation as pressures.

Crypto

Bitcoin could slide to $40,000; NYDIG says $38,000 possible in October

Bitcoin could fall to $38,000 to $39,000 in October if it continues to mirror past bear markets, an outlook said, with weakness linked to shifts in supply structure rather than simple risk-off sentiment. NYDIG said bitcoin has fallen about 30 percent this year and about 50 percent from its October record. It also noted unusually low volatility and changing correlations, while U.S. regulatory developments were cited as a potential support.