Bitcoin $404M Outflows; Ethereum Logs 15th Inflow
Digital asset investment products saw $223 million in net outflows in the week to August 2, ending a 14-week inflow streak. Bitcoin bore the brunt, with $404 million pulled from BTC products after a hawkish Fed policy warning sparked a 9.5% drop in crypto market cap. Ethereum bucked the trend, logging its 15th consecutive week of inflows at $133.9 million as traders shifted toward ETH ahead of network upgrades.
Smaller tokens also saw mixed flows. Solana (SOL), XRP and Cardano (ADA) attracted a combined $41 million, while Sui (SUI) and Litecoin (LTC) each faced modest $1 million outflows. Institutional crypto ETFs diverged: BlackRock’s spot Bitcoin and Ethereum ETFs drew $355.3 million and $394.2 million, even as other investors sold $323 million in BTC spot products in a single day.
Despite the short-term bearish pressure on Bitcoin, total assets under management held steady at $215 billion. The data suggest the pullback may be a temporary correction rather than a sustained reversal in the digital asset market.
Bearish
Heavy Bitcoin outflows of $404 million and a 9.5% market-cap drop reflect clear short-term bearish pressure on Bitcoin. While Ethereum’s 15th week of inflows and strong ETF demand signal resilience for ETH, they do not offset the broader sell-off in BTC products. The stability of total assets under management suggests a temporary market correction rather than a reversal, but Bitcoin’s current momentum remains negative due to Fed-driven sentiment and sizeable outflows.