Bitcoin ETFs Experience Record Outflows for Eight Consecutive Weeks
- Bitcoin ETF Outflows: U.S. spot bitcoin ETFs experienced approximately $527 million in outflows for the week ending July 2, marking the longest negative streak in history at eight consecutive weeks, indicating a persistent decline in investor confidence.
- IBIT Fund Struggles: BlackRock's IBIT was the only spot bitcoin ETF to post an outflow on Thursday, losing $40.43 million and extending its redemption streak to 11 sessions, resulting in a total loss of about $2.2 billion, highlighting ongoing weak demand for this leading product.
- Ether ETF Demand Issues: Spot ether ETFs recorded a net outflow of $13.67 million over the week, tying the record for the longest losing streak at eight weeks, although minor inflows on Wednesday and Thursday suggest a lack of sustained market support for ether.
- Hyperliquid ETF Inflow Slowdown: Hyperliquid ETFs attracted $4.32 million in inflows this week, the lowest since their launch in mid-May, reflecting significant volatility in demand within newer crypto ETF categories, as investor sentiment remains cautious.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 52306.428 | 55053.309 | 57968.228 | 60715.109 | 63630.028 | 66376.909 | 69291.828 |
| Fibonacci | 55053.309 | 57216.117 | 58552.301 | 60715.109 | 62877.917 | 64214.101 | 66376.909 |
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