US spot Bitcoin ETFs recorded roughly $430 million in net outflows on July 13, with Fidelity's FBTC leading the redemptions at $246.3 million. BlackRock's IBIT followed with $186.1 million in outflows. The day's activity snapped a brief positive streak — the funds had attracted $197.4 million in net inflows during the week ending July 10, ending eight straight losing weeks.
A single-day reversal
VanEck's HODL was the only fund to post an inflow, taking in $3.5 million. Grayscale's GBTC and Franklin Templeton's EZBC each saw smaller losses. Combined, the outflows from the ten funds hit roughly $430 million in a single day. The timing isn't great: June produced record monthly outflows of $4.5 billion.
Trading volumes collapse
ETF trading volumes have collapsed 78% from their peak. The 30-day moving average now sits at $1.25 billion, compared to a $5.8 billion peak in late 2025. Activity has slipped below 2024 levels. BlackRock's IBIT still accounts for most of the remaining turnover, but its share has thinned. Glassnode described the slowdown as a loss of attention rather than a temporary lull.
Price action and key levels
BTC trades near $64,681, up 4.4% over the past 24 hours. That's still well off the roughly $78,000 level from mid-May. The slide hit a June 30 low near $58,000. That area is a key support level; a daily close below it would put the cycle floor near $57,500 — an 11% drop from current prices. Bulls must reclaim $68,000 to suggest institutional demand is returning.
Long-term holders return to accumulation
On July 11 and 12, long-term holders flipped back to accumulation, adding a net 5,912 BTC. That's a positive signal, but it's early. Sustained positive flows and a volume recovery would confirm renewed participation. For now, the market is waiting to see if the bounce can hold.
