The inflow streak for US spot Bitcoin ETF products came to a halt during trading on Thursday, July 24, 2026. Market data recorded net withdrawals of $225.2 million, snapping an inflow streak that had previously lasted for seven consecutive days.
BlackRock’s IBIT was the primary driver of these withdrawals, recording $202.5 million in outflows alone. That single figure from BlackRock accounted for nearly all of the day’s total Bitcoin ETF outflows. Competing products such as Fidelity FBTC, Bitwise BITB, ARK 21Shares ARKB, Franklin Templeton EZBC, and WisdomTree BTCW followed the trend, logging smaller outflows.
Morgan Stanley’s MSBT stood as the lone exception. The ETF managed to attract $5 million in inflows on the same day.
What stands out from this daily maneuvering is not merely the volume of money exiting Bitcoin, but where that capital is heading.
Why Capital Is Flowing Into Ethereum Instead
While the $225.2 million withdrawal might give an initial impression of investors fleeing the crypto market, Ethereum ETF data paints a different picture. Ethereum ETFs instead pulled in $26.3 million in net inflows during the same trading session. This inflow extended Ethereum’s positive streak to five consecutive days. The pattern suggests that institutional investors are rotating their portfolios within the ecosystem, rather than pulling their capital out of the crypto market altogether.
The pressure on Bitcoin stems from external macroeconomic factors. US stock markets tumbled following the escalation of the military conflict between the US and Iran, now entering its fifth month. This geopolitical situation has kept global oil prices elevated, forcing market participants to rotate capital away from risk assets.
The ripple effect of these macroeconomic events pushed Bitcoin’s price below the $65,000 threshold to touch $64,600. This decline dragged the price chart back below the death cross line, a classic technical indicator where a short-term moving average crosses below a long-term moving average.
Interest Rate Meeting Test Approaches
Investor panic was clearly reflected in the Crypto Fear & Greed Index. The market sentiment score dropped three points to 28, plunging the market deeper into fear territory. This figure marks the highest level of panic recorded so far this month.
Before this wave of withdrawals, the seven-day Bitcoin ETF inflow streak had accumulated nearly $1 billion in capital. That positive run initially provided a breath of fresh air after an eight-week slump that drained a total of $8.2 billion. James Butterfill of CoinShares described that downturn as the largest outflow they had ever witnessed.
Despite the sharp daily outflows, weekly Bitcoin ETF performance remains in surplus territory. Through the fifth session on Thursday, total net weekly inflows for Bitcoin ETFs still held a positive $274 million.
Market direction now hinges entirely on the US Federal Reserve’s interest rate policy meeting on July 28 and 29, 2026. The decision from that boardroom will test investor resolve and determine whether institutional capital flows back into Bitcoin or remains on the sidelines until the geopolitical dust settles.
Reported by Decrypt.
Also read: How to Read Candlestick Charts for Beginners
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
