$BTC Bitcoin Stalls at 64.5K as Institutions Offload 2.1B in Spot ETF Shares
Bitcoin has barely moved in four weeks. The asset closed at 64,454 on August 18, per CoinGecko data, virtually unchanged from where it sat in mid-July.
Who is selling and where is the supply going
The outflows concentrate in three funds: Grayscale's GBTC, Fidelity's FBTC, and Ark's ARKB. Market data shows combined, they account for 87% of the 2.1 billion exit. Market data shows gBTC alone shed 1.3 billion. The shares are not vanishing - they are rotating.
Two forces are absorbing the supply. First, perpetual funding rates have stayed near zero or slightly negative, capping short-side aggression. Second, long-term holder supply - coins unmoved for 155+ days - has not budged.
Watch $BTC for the next session - if this move holds, it changes the read.
$BTC #BTC #ETF #CryptoNews
Bitcoin has barely moved in four weeks. The asset closed at 64,454 on August 18, per CoinGecko data, virtually unchanged from where it sat in mid-July.
Who is selling and where is the supply going
The outflows concentrate in three funds: Grayscale's GBTC, Fidelity's FBTC, and Ark's ARKB. Market data shows combined, they account for 87% of the 2.1 billion exit. Market data shows gBTC alone shed 1.3 billion. The shares are not vanishing - they are rotating.
Two forces are absorbing the supply. First, perpetual funding rates have stayed near zero or slightly negative, capping short-side aggression. Second, long-term holder supply - coins unmoved for 155+ days - has not budged.
Watch $BTC for the next session - if this move holds, it changes the read.
$BTC #BTC #ETF #CryptoNews