In July, Bitcoin exchange-traded funds (ETFs) have experienced their lowest monthly inflows ever, totaling just $205 million, according to data from SoSoValue. This figure starkly contrasts with the significant outflows recorded in previous months, including $2.43 billion in May and $4.52 billion in June, indicating a troubling trend for institutional investment in cryptocurrencies.
While there were some days of inflows into U.S.-listed crypto ETFs, the overall weak performance suggests a waning institutional interest. In contrast, ether ETFs have fared better, attracting $342.85 million this month, nearly matching April's figures and outperforming both Bitcoin and other crypto funds. XRP has also shown resilience with inflows of $13.61 million, while Solana ETFs recorded $13.82 million.
Despite these figures, the market remains cautious, with Bitcoin's price stability failing to stimulate broader interest in altcoins. Analysts pointed out that Bitcoin's performance is currently tied to key price levels, with the 200-week moving average at around $63,300 acting as a critical support level. A drop below $62,500 could trigger further selling pressure, with bears eyeing a potential liquidation target at $60,000.
