Two days of redemptions ended a seven-session inflow streak, but weekly flows stayed slightly positive as traders focused on long liquidations, rising U.S. net liquidity and the August 12 CPI report.
U.S.-listed spot Bitcoin ETFs recorded $465 million of net outflows across July 23 and July 24, ending a seven-session inflow streak, although the funds still posted $33.79 million of net inflows for the week. Redemptions totaled $225.1 million on July 23 and $240.08 million on July 24, while Bitcoin traded in a relatively narrow range between about $63,700 and $65,400 before hovering near $65,300. Ethra Invest chief executive Saeed Al-Marri said the latest pullbacks reflected forced selling rather than a broad retreat, with long positions being liquidated at a six-to-one ratio versus shorts. The move came as U.S. net liquidity rose to roughly $5.92 trillion and the Federal Reserve's reverse repo facility neared depletion, leaving traders watching the Bureau of Labor Statistics' July CPI release on August 12 as a potential catalyst for Bitcoin's next move.