Bitcoin ETF fund outflow alert: ends 7 weeks of net inflow, $643 million withdrawn from the market

On Monday (August 4), according to SoSoValue data, during the last trading week (from July 28 to August 1, Eastern Time), Bitcoin Spot ETF experienced a net outflow of $643 million. This data ended a seven-week trend of net inflow for Bitcoin Spot ETF, raising concerns in the market about its future trend. Due to the return of trade tariff economic uncertainty, which suppressed risk appetite, Bitcoin fell back to the support level of $112,000, and the Crypto Assets market saw a significant decline over the weekend.

Bitcoin Spot ETF Fund Outflow Details

The Bitcoin Spot ETF with the highest net inflow last week was Blackrock's Bitcoin ETF IBIT, with a weekly net inflow of $355 million. Currently, IBIT's historical total net inflow has reached $57.6 billion. Following that is the VanEck ETF HODL, with a weekly net inflow of $9.13 million, and HODL's historical total net inflow has reached $1.14 billion.

Last week, the Bitcoin Spot ETF with the highest net outflow was the ETF ARKB from Ark Invest and 21Shares, with a net outflow of $444 million. Currently, the total historical net inflow for ARKB has reached $2.39 billion. The second was Fidelity's ETF FBTC, with a net outflow of $354 million, and the total historical net inflow for FBTC has reached $12.08 billion.

As of the time of publication, the total net asset value of the Bitcoin Spot ETF is $146.48 billion, with an ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 6.46%. The historical cumulative net inflow has reached $54.18 billion.

Outlook on Macroeconomics and Market Sentiment

Trump introduced new "reciprocal" tariffs through an executive order, and a weak U.S. jobs report led the market to struggle later last week. As President Trump pushed for import tariffs effective August 7, trade tensions became a focal point of attention again. Meanwhile, trade negotiations with China resumed ahead of a key review on August 12, when the traffic suspension order will expire, which could cause greater volatility.

In the coming week, all eyes will be on key PMI data, employment data, and more earnings reports. The July S&P Global Services PMI (Purchasing Managers' Index) data will be released on Monday, which reflects the business conditions in the services sector and is an indicator of the overall economic health. On Tuesday, a similar report will also be released, namely the ISM Non-Manufacturing PMI data, which also reveals trends in economic conditions. The weak employment data released last week may further suggest signs of an economic slowdown.

Federal Reserve Chairman Jerome Powell will speak at the annual policy forum of the Kansas City Federal Reserve Bank this week, and investors are focused on any signals regarding potential interest rate cuts in the September meeting. Bill Adams, Chief Economist at Comerica Bank, stated, "The weak employment report in July has increased the pressure on the Fed to cut rates later this year." Some unemployment claims data will be released on Thursday, which may also indicate that the labor market is facing darker days ahead.

More than half of the companies in the S&P 500 index have announced their second quarter results, with large technology and artificial intelligence companies reporting strong profits. Companies like Palantir and AMD will announce their results this week. The Kobeissi Letter commented, "As the earnings season in August fully arrives, volatility has returned."

Crypto Assets Market Outlook

The Crypto Assets market fell to a three-week low over the weekend, but rebounded during the early Asian trading session on Monday, with the total market capitalization reaching 3.8 trillion dollars again. Bitcoin briefly dropped to just above the support level of 112,000 dollars, but maintained this level, allowing it to slightly rebound to 114,500 dollars during early trading this week. However, the current price of Bitcoin has fallen 6.7% from its historical high, and August has consistently been a bearish month for Bitcoin.

Ethereum fell to a low of just below $3,400 on Sunday, but rebounded to $3,560 on Monday morning. ETH was once at risk of a larger fall, but it seems to have successfully returned to the range of fluctuation channel.

Conclusion:

Bitcoin Spot ETF saw a net outflow of $643 million last week, ending a seven-week trend of net inflows, indicating a decrease in risk appetite in the market under the impacts of macroeconomic uncertainty and trade tariffs. However, Bitcoin and Ethereum quickly rebounded after a brief fall, showing that the market still has resilience. In the coming week, the remarks of Federal Reserve Chairman Powell and the release of economic data will be key factors influencing the trend of the crypto assets market.