Bitcoin struggles at June range floor as U.S. spot Bitcoin ETF outflows hit $390 million

Bitcoin hovered near $64,000 and struggled to hold the floor of its June trading range after softer U.S. inflation and lower September rate-hike odds failed to trigger a stronger rebound in risk assets. Wintermute said roughly $390 million left U.S. spot Bitcoin ETFs between August 10 and 14, the largest weekly redemption since early July, while miner selling and higher oil prices added to supply and inflation concerns. The weak response to supportive macro data suggested fresh demand remained limited, even as Jane Street disclosed more than $1 billion in U.S. spot Bitcoin ETF holdings at the end of the second quarter, including about $828 million in IBIT.

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