Bitcoin tracks equity bounce, but $390 million ETF outflow week keeps bulls on back foot

MarketsBitcoin tracks equity bounce, but $390 million ETF outflow week keeps bulls on back footThe price of bitcoin tracked a bounce in equities, but a $390 million ETF outflow streak and 10% odds on landmark crypto legislation leave markets searching for direction.By Oliver Knight, Omkar Godbole|Edited by Sheldon RebackUpdated 17 min agoPublished 1 hr ago3 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowU.S. spot bitcoin ETFs recorded four days of outflows last week, shedding a net $390 million, their largest weekly withdrawal in six weeks. Solana ETFs bucked the trend with their strongest weekly inflows since May.Galaxy Digital's head of research, Alex Thorn, cut his odds on the Clarity Act becoming law in 2026 to roughly 10%, down from 75% in May.Bitcoin has rising 0.77% since midnight UTC, while Nasdaq 100 index futures have gained 0.5% to their highest level since July 2. CoinMarketCap’s Fear and Greed index sits at 38/100, a “fear” reading, and the Altcoin Season Index is at 46, showing altcoin strength recovering from the Aug. 7 low of 36.Bitcoin BTC$63,578.34 steadied above $63,000 on Monday, clawing back a fraction of last week's losses with a 0.8% gain since midnight UTC.Without an obvious catalyst, the largest cryptocurrency appears to be tracking U.S. equities. Nasdaq 100 index futures are up 0.5% to their highest point since July 2.Any positive reading will need to take into account last week’s net $390 million outflow from spot exchange-traded funds, including the first three-day stretch since the end of July. That was the largest weekly withdrawal from U.S. spot bitcoin products in six weeks. Ether ETH$1,903.35 ETFs flows were limited, and solana (SOL) ETFs bucked the trend with their strongest weekly inflows since mid-May.The bigger picture is the Clarity Act. Galaxy Research’s head of research, Alex Thorn, cut his odds of the landmark crypto bill becoming law in 2026 to …

Bitcoin tracks equity bounce, but $390 million ETF outflow week keeps bulls on back foot

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