BTC Stuck at $63K as ETFs Bleed $389M — Washington Gridlock Weighs!
Bitcoin is trading near $63,000–$63,200, down roughly 2.8% over the past week. BTC traded between $62,670 and $63,310 during the session, hovering near the bottom of its key support range.
ETF Outflows: US spot Bitcoin ETFs recorded $389.7 million** in net outflows between August 10-14, with 4 of 5 sessions in the red. Fidelity's FBTC led at **$153.2M, followed by Grayscale's GBTC at $88.3M** and BlackRock's IBIT at **$79M. Grayscale's Bitcoin Mini Trust bucked the trend with $75.98M in inflows — institutions aren't leaving, just rotating to cheaper products.
The Big Picture: The CLARITY Act is stalled until September, and the SEC canceled its "Regulation Crypto" meeting. Until Washington provides clarity, Bitcoin remains trapped.
Key Levels: Support at $62,400–$63,000; resistance at $64,000–$65,500.
$BTC
#Bitcoin #BTC #ETF #CLARITYAct #CryptoMarket
Bitcoin is trading near $63,000–$63,200, down roughly 2.8% over the past week. BTC traded between $62,670 and $63,310 during the session, hovering near the bottom of its key support range.
ETF Outflows: US spot Bitcoin ETFs recorded $389.7 million** in net outflows between August 10-14, with 4 of 5 sessions in the red. Fidelity's FBTC led at **$153.2M, followed by Grayscale's GBTC at $88.3M** and BlackRock's IBIT at **$79M. Grayscale's Bitcoin Mini Trust bucked the trend with $75.98M in inflows — institutions aren't leaving, just rotating to cheaper products.
The Big Picture: The CLARITY Act is stalled until September, and the SEC canceled its "Regulation Crypto" meeting. Until Washington provides clarity, Bitcoin remains trapped.
Key Levels: Support at $62,400–$63,000; resistance at $64,000–$65,500.
$BTC
#Bitcoin #BTC #ETF #CLARITYAct #CryptoMarket