Overview
- U.S. spot Bitcoin ETFs suffered roughly $465 million of net outflows on July 23–24 that were driven mainly by BlackRock’s IBIT and erased most of a prior short‑term inflow streak.
- Despite the two‑day drain, the week ending July 24 closed with a small net inflow of about $33.8 million and July month‑to‑date flows show roughly $233.96 million into Bitcoin ETFs and $337.74 million into Ether funds.
- ETF trading intensity has weakened with a recent five‑session week of spot BTC ETF volume near $8.05 billion, the lowest since October 2024, leaving price moves more sensitive to large, concentrated fund flows.
- On‑chain metrics show large holders added about 19,696 BTC over an eight‑day span while retail dip‑buying cooled, signalling supply is shifting to bigger wallets even as short‑term buying remains thin.
- Market participants say the next sustained trend depends on the Fed’s guidance this week and whether steady ETF inflows return to reclaim the ~$67k resistance and defend the ~$61k support while stalled U.S. crypto legislation removes a near‑term structural catalyst.