Bitcoin Stalls Near $64K as ETF Outflows Extend to Six Weeks
Persistent ETF outflows and a stronger dollar keep Bitcoin range-bound despite easing sell pressure, analyst says.
Bitcoin continues to trade in a narrow range near the $64,000 mark, as outflows from spot ETFs enter their sixth consecutive week. The cryptocurrency has struggled to break higher despite signs that the pace of ETF selling is slowing and risk appetite is broadly improving.
One market analyst noted that the easing of ETF-related selling pressure and a pickup in risk-on sentiment are being counterbalanced by a strengthening U.S. dollar and cautious behavior from institutional investors. The dollar index has firmed in recent sessions, historically a headwind for Bitcoin and other risk assets.
Institutional flows remain subdued, with large players showing reluctance to add exposure amid macroeconomic uncertainty. The combined effect of these opposing forces has left Bitcoin locked in a tight range, unable to establish a clear direction in either direction.