Cryptocurrency markets are observing a significant slowdown in fund movement, particularly during the summer months, putting pressure on Bitcoin's price.
Outflows from Bitcoin ETFs
According to on-chain data, Bitcoin spot ETF outflows are approaching their fifth month. Outflows are expected to reach around $1.2 billion in August, marking the second-highest level in history.
Comparison to Previous Events
This figure follows the record $3.5 billion outflow recorded in February. Experts emphasize that this may not be merely a seasonal effect, but rather that fund flows are as decisive as macroeconomic developments in market direction.
Future Prospects
While the market displayed optimism last month, caution has returned to the forefront in August. US Federal Reserve Chair Jerome Powell's statements were initially perceived positively by markets, however, seasonality-related declining liquidity and ongoing fund outflows are limiting Bitcoin's upward potential.
Experts note that despite macroeconomic support, Bitcoin may face challenges in the short term, particularly if ETF outflows continue.
