Bitcoin News Today: Bitcoin ETFs See $643M Outflow as Crypto Market Slumps on Weak Jobs Data and Tariff Fears

This week marked a significant downturn for the cryptocurrency market, as Bitcoin and Ethereum faced sharp sell-offs amid rising macroeconomic uncertainties and a notable outflow from exchange-traded funds (ETFs). Bitcoin ETFs saw a massive $643 million outflow in the span of one week, ending a seven-week streak of positive inflows [1]. In contrast, Ethereum ETFs remained relatively resilient, recording a net inflow of $154 million for the 12th consecutive week [1]. The market shift was driven by a combination of aggressive tariff announcements, a disappointing U.S. jobs report, and growing concerns about global economic conditions [1].

The sell-off pushed Bitcoin to a three-week low, with its price dropping to approximately $114,000 after nearly $1 billion in outflows over two days. Similarly, Ethereum saw its price fall to $3,500, down from $3,800, despite continued net inflows into its ETFs [1]. The broader market’s sensitivity to macroeconomic indicators deepened following the U.S. jobs report, which showed only 73,000 new jobs added in July—well below the expected 110,000—leading to speculation that the Federal Reserve might cut interest rates by 25 basis points in September with a 70% probability [1].

Arthur Hayes, co-founder of Maelstrom, warned that Bitcoin and Ethereum may test critical support levels in the short term, with BTC potentially falling to $100,000 and ETH to $3,000. However, he expressed a bullish outlook for the long term, predicting that Bitcoin could reach $250,000 by year-end and $1 million by 2028 [3].

Market volatility remains high as investors await key data releases, including the July S&P Global Services PMI, initial jobless claims report, and a series of Fed speeches, which are expected to provide further clarity on the central bank’s policy direction. The U.S. dollar weakened, bond yields declined, and risk appetite increased following the weak jobs data [1].

While short-term bearish pressures are evident, some analysts argue that the current correction may not signal a long-term structural shift but rather a reaction to changing macroeconomic conditions and ETF outflows. However, uncertainties around inflation, trade policies, and credit creation continue to influence investor sentiment, with capital increasingly flowing toward safer assets [6]. As August progresses, the interaction between central bank decisions, macroeconomic data, and asset flows will play a pivotal role in shaping the market’s trajectory.

Source:

[1] title1.............................(https://www.mitrade.com/insights/news/live-news/article-3-1009819-20250804)

[3] title3.............................(https://www.binance.com/en/square/post/27816713107338)

[6] title6.............................(https://www.silverbearcafe.com/private/financial.html)