$BTC

The positive streak of bitcoin ETFs has broken, but the price shows strength

After 15 consecutive days of net capital inflows, outflows surpassed inflows.

Bitcoin ETFs faced outflows that affected the price of the coin, but only momentarily. Source: Image generated by CriptoNoticias using Grok.

The price of bitcoin (BTC) fell but quickly recovered.

Direct institutional purchases of BTC are surpassing purchases through ETFs.

The bitcoin (BTC) ETF frenzy in the United States came to an abrupt halt yesterday, Tuesday, July 1, when outflows surpassed inflows for the first time after 15 days of gains.

After accumulating $4.7 billion in net inflows during that period, the funds recorded an outflow of $342 million, marking the end of a positive streak.

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The iShares Bitcoin Trust (IBIT) from BlackRock, which had captured $3.8 billion in the last 15 days, recorded no inflows or outflows yesterday.

Meanwhile, the Fidelity Wise Origin Bitcoin Fund (FBTC) led the outflows with $172 million, followed by the Grayscale Bitcoin Trust (GBTC) with $119 million, the ARK 21Shares Bitcoin ETF (ARKB) with $27 million, and the Bitwise Bitcoin ETF (BITB) with $23 million.

Fidelity Wise Origin Bitcoin Fund (FBTC) led the outflows with $172 million. Source: Soso Value.

"This marks a pause in institutional accumulation, but not necessarily a change in trend," explained Valentin Fournier, lead analyst at Blockhead Research Network (BRN).

Despite the outflows, the price of bitcoin showed resilience. After falling to $105,000, it quickly recovered to $107,800.