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Bitcoin exchange-traded funds (ETFs) traded in the US markets recorded the largest weekly outflows since late June, amounting to approximately $389.7 million during the week starting August 10, after inflows of $853.5 million in the previous week. This comes amid continued investor pessimism, with Bitcoin's price hovering near $63,000—a roughly 50% decline from its previous high recorded in October—and the impact of expectations for interest rate hikes, as well as the lack of legislative progress in the United States regarding cryptocurrency regulation. Additionally, data indicates that the outflows reflect a sense of discouragement, with some investment funds closing and liquidity decreasing, as financial institutions move toward diversifying their investments away from the digital currency market.
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