Bitcoin ETF outflows reached a critical milestone on July 13 with combined net redemptions of approximately $430 million, marking the most severe single-day exodus since the current market downturn began. Fidelity's FBTC led the exodus with $246.3 million in redemptions, while BlackRock's IBIT shed $186.1 million, according to Glassnode data. The scale of these outflows represents a dramatic reversal from the previous week's $197 million in combined net inflows that had ended an eight-week streak of outflows totaling $9.46 billion. VanEck's HODL bucked the trend with a $3.5 million inflow, while Grayscale's GBTC and Franklin Templeton's EZBC posted smaller losses. The IBIT figure drew particular attention, with Evan Luthra, entrepreneur and BeInCrypto Experts Council member, reacting to the data on X, highlighting the significance of BlackRock's participation in the selloff.
While equity markets achieved record highs with stock funds now commanding a record 64.7% of assets tracked by EPFR Global, Bitcoin has failed to participate in the broader risk-on rally. Bitcoin lost 32.9% year-to-date and 13.4% in the second quarter, according to NYDIG research led by Greg Cipolaro, while the Nasdaq 100 gained 27.7% and technology equities rose 43.5% over the same period. The divergence occurred despite Bitcoin maintaining a 3-month correlation with the S&P 500 that remained high throughout the quarter, indicating the losses were driven by crypto-specific factors rather than broad risk-off sentiment. Strategy authorized roughly $1.25 billion in Bitcoin sales, flipping the largest treasury buyer into a seller, while spot Bitcoin exchange-traded funds shed $4.9 billion over the quarter. NYDIG argues a lasting recovery needs sustained ETF inflows and renewed stablecoin supply growth, as flows turned positive in mid-July with Bitcoin trading near $63,871.
ETF trading volumes have experienced a dramatic collapse, falling 78% from their peak of $5.8 billion recorded in late 2025 to a current 30-day moving average of $1.25 billion, according to Glassnode data. Activity has also slipped below 2024 levels, with BlackRock's IBIT still accounting for most of the remaining turnover, though even its share has thinned in recent months. The on-chain analytics firm framed this slowdown as a loss of attention rather than a temporary lull, warning that a sustained recovery in BTC price momentum would likely require attention and market participation to return from other asset classes. ETF volumes have collapsed 78% from their peak, with analysts noting that attention has rotated to other asset classes during this period of reduced institutional participation.
Cryptocurrency markets demonstrated remarkable resilience as Bitcoin traded near $63,871 despite fresh US military action against Iran. The latest moves kept the largest cryptocurrency above the $60,000 support area while Ethereum stayed steady at $1,779 and XRP stood around $1.08. Bitcoin's limited reaction contrasted with its sharp selloffs during earlier rounds of conflict this year, showing improved market stability. Solana changed hands near $76.40, with Dogecoin hovering around $0.07 as the broader market faced renewed pressure from escalating tensions. The two markets now sit at opposite extremes, with equity investors holding record exposure and little cash to add, while Bitcoin trades well below its highs on thin, leverage-driven buying.
Bitcoin's recent structure remains sideways to slightly positive after the late-June bottom, with the price staying above the main support zone near $60,000. On the daily chart, Bitcoin remains below the 0.786 Fibonacci retracement at $63,131, drawn from the May peak near $82,844 to the June low around $57,765. A daily close above that level would improve the recovery setup and place the $64,000–$64,690 zone back in focus. The daily MACD line has crossed above its signal line, but both remain below zero, while the positive histogram has narrowed during the latest pullback. Chaikin Money Flow stands at 0.07, slightly above zero, though price has not cleared resistance. On the 4-hour chart, Bitcoin trades below the Supertrend barrier at $64,004, while the RSI sits at 39.71 and below its 44.68 moving average. Immediate support lies near $61,560, with the main range ceiling at $64,690. CoinGlass's one-week liquidation heatmap shows dense leverage around $61,000–$61,500 below price and another large cluster near $64,800–$65,000 above it. Crypto analyst Lennaert Snyder noted that open interest rose during the latest drop as spot selling increased and funding stayed positive, with "If CPI triggers enough volatility and pushes price towards the 63.5K zone, I'm shorting the reaction towards 60.4K." A close below $62,000 would expose $60,400, followed by the monthly open near $58,700 and the daily swing low at $57,765.
