Bitcoin slips as U.S. inflation fails to spark gains, ETFs see August's first two-day drawdown
Bitcoin prices have slipped as spot ETFs see their first consecutive days of outflows since July. Market indicators, including negative cumulative volume delta and rising open interest, suggest traders are positioning for further downside.
Why it matters
This reflects current market sentiment and institutional flow trends, which are critical for understanding short-term volatility in the crypto sector.
Spot bitcoin ETFs experienced the first back-to-back days of outflows since late July with $192 million exiting the products, according to SoSoValue .
The largest cryptocurrency is now trading at its lowest point since Aug. 3 having wiped out all of last week’s rally. Ether ETH $ 1,879.19 is down by 0.73% since midnight, while a portion of the altcoin market continues to show resilience, outperforming crypto majors.
U.S. equities were boosted on Thursday by producer price inflation data, which cooled to 4.7%, below forecasts. The S&P 500 and Nasdaq 100 both rallied following the report, and futures on the indexes remain marginally in the black.
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