US spot Bitcoin ETFs recorded net outflows of $131.1M on August 13 and $0.7M on August 14, with Fidelity leading redemptions as BTC trades below $64K.
Macro & Markets ·
US spot Bitcoin ETFs experienced consecutive days of net outflows, with $131.1 million leaving on August 13 followed by $0.7 million on August 14, with Fidelity's products accounting for a substantial portion of the redemptions. Bitcoin traded in the $63,000–$63,700 range during this period, down approximately 1.4% on the day.
The outflows coincided with a market showing mixed institutional positioning. Options traders have positioned defensively around the $60,000 level, suggesting hedges against downside rather than bullish bets. Meanwhile, on-chain data reveals a divergent picture: long-term holders have reduced holdings for the first time in 2026, yet wallet addresses holding over 1,000 BTC have reached yearly highs, indicating large accumulation amid retail and medium-term holder withdrawal.
Technically, Bitcoin remains caught between support near $62,250 and resistance at $64,400, with the Relative Strength Index at 47—neither oversold nor overbought. The immediate catalyst remains unclear; while softer inflation data and rising jobless claims historically support risk assets, these macroeconomic signals have failed to arrest the price decline, leaving the near-term direction uncertain.