Bitcoin ETFs See Steady Outflows As Market Jitters Return
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Bitcoin ETFs are experiencing significant outflows, totaling $196 million on August 5, as market concerns about tariffs and stagflation resurface. This marks the longest outflow streak since April. The U.S. jobs report and ISM Non-Manufacturing data indicate economic weakness, raising fears of stagflation, which negatively impacts risk assets like cryptocurrencies. Bitcoin's price has dropped to $114,000 from $123,000 in mid-July. However, expectations for a Federal Reserve interest rate cut in September have increased, with futures traders now betting 89% on a cut.
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