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Live markets: Bitcoin is stuck near $64,000 as ETF outflows reach a sixth week
Key takeaways
- Selling from spot bitcoin ETFs has eased from earlier this month, but fresh institutional demand has yet to return.
- U.S. spot bitcoin ETFs have now posted a sixth straight week of net outflows, data shows, with only a sparse few days of green.
- A bigger weight is the rebounding dollar.
Selling from spot bitcoin ETFs has eased from earlier this month, but fresh institutional demand has yet to return.
U.S. spot bitcoin ETFs have now posted a sixth straight week of net outflows, data shows, with only a sparse few days of green. The scale has narrowed, but the absence of any sustained inflow shows institutions remain defensive as markets reassess the Federal Reserve's interest-rate path.
A bigger weight is the rebounding dollar. After the June meeting, the Fed's cautious message weakened expectations for near-term rate cuts, lifting the Dollar Index, which measures the greenback against major currencies, to the 100.6-100.8 area while keeping Treasury yields high.
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