Daily Market
BTC institutional outflows and on-chain unrealized losses suppress rebounds, with regulatory bill process extended to September
With institutional funds leaving and on-chain unrealized losses increasing, the market is likely to maintain a choppy and slightly weak pattern in the near term. The main risks are concentrated in the lack of incremental liquidity.
BTC spot ETFs saw net outflows of about $390 million in a single week, while the share of on-chain profitable supply fell to 51.4%, with nearly half of holdings in an unrealized loss position. The combination of capital withdrawal and capital being locked up has intensified a wait-and-see sentiment, weighing on BTC’s rebound momentum.
Before the adjournment, the U.S. Senate failed to vote on the “Clarity Act.” The relevant procedural vote has been pushed to after the September 14 return session. In addition, the Federal Reserve announced the termination of its special oversight program for crypto banks, folding it back into the standard regulatory framework. This reflects that regulators are gradually removing special restrictions on crypto-related business.
Next, key points to watch are: the progress of the September Senate push for the “Clarity Act,” and whether BTC spot ETFs can end net outflows. Do you think BTC can return to $65,000 before the expected September rate cuts are realized?
BTC institutional outflows and on-chain unrealized losses suppress rebounds, with regulatory bill process extended to September
With institutional funds leaving and on-chain unrealized losses increasing, the market is likely to maintain a choppy and slightly weak pattern in the near term. The main risks are concentrated in the lack of incremental liquidity.
BTC spot ETFs saw net outflows of about $390 million in a single week, while the share of on-chain profitable supply fell to 51.4%, with nearly half of holdings in an unrealized loss position. The combination of capital withdrawal and capital being locked up has intensified a wait-and-see sentiment, weighing on BTC’s rebound momentum.
Before the adjournment, the U.S. Senate failed to vote on the “Clarity Act.” The relevant procedural vote has been pushed to after the September 14 return session. In addition, the Federal Reserve announced the termination of its special oversight program for crypto banks, folding it back into the standard regulatory framework. This reflects that regulators are gradually removing special restrictions on crypto-related business.
Next, key points to watch are: the progress of the September Senate push for the “Clarity Act,” and whether BTC spot ETFs can end net outflows. Do you think BTC can return to $65,000 before the expected September rate cuts are realized?