Bitcoin near $64,000 after $225M ETF outflows

Bitcoin traded near $64,000 after spot bitcoin exchange-traded funds recorded $225.18 million in net outflows on July 24, with BlackRock’s IBIT fund accounting for $202.5 million of the withdrawals. Over 24 hours the cryptocurrency swung between $63,700 and $65,406 before settling near $63,800.

The outflows on July 24 ended a seven-session inflow streak that had drawn roughly $1 billion into spot bitcoin ETFs during the prior week. Ether-focused ETFs posted $26.3 million in net inflows on the same day. Total trading volume across the crypto market was about $63 billion.

The Crypto Fear & Greed Index read 27 on July 24, down one point from the previous day. The broader crypto market capitalization fell 1.1% to $2.28 trillion while bitcoin’s dominance held at 56.4%. Ethereum also declined over the period.

Earlier in July, bitcoin hit an intraday low near $57,735 on July 1, recovered above $60,000, and climbed to roughly $66,872 on July 22. The token approached $67,000 mid-week before slipping below $64,000, which reduced bitcoin’s market capitalization to about $1.285 trillion.

The move below $64,000 coincided with about $312 million in liquidations tied to leveraged positions. Trading in the most recent sessions remained within a narrower range than the month’s earlier extremes, with intraday swings of roughly $1,700.

Flows between bitcoin and ether ETFs diverged on July 24, with large redemptions from a major bitcoin fund occurring as ether funds recorded inflows. Traders are watching whether ETF flows return to net inflows or continue to fluctuate in the coming sessions.