Bitcoin News Today: Bitcoin ETFs Extend 3-Day Loss Streak as $285M Outflows Signal Market Uncertainty Amid BTC's Below $120K Stagnation

Bitcoin ETFs have extended their losing streak for a third consecutive day as Bitcoin (BTC) remains below the $120,000 psychological threshold, reflecting a cooling in investor sentiment and ongoing market uncertainty. U.S.-listed spot Bitcoin ETFs experienced $86 million in net outflows on July 23, according to SoSoValue, marking the third day of declines after a 12-day inflow streak earlier in the week. Fidelity’s FBTC led the outflows with $227.2 million, while BlackRock’s IBIT bucked the trend with $142.6 million in inflows, and Grayscale’s GBTC added $10.5 million. Over the past three days, Bitcoin ETFs have collectively shed $285 million, signaling a sharp reversal from their recent rally [1].

Bitcoin’s price, trading at approximately $117,745 at press time, remains 4.3% below its record high of $123,000. The asset has oscillated between $116,000 and $120,000 for the past two weeks, with recent dips below $117,000 raising concerns about short-term bearish pressure. Analysts attribute the ETF outflows to profit-taking by retail and institutional investors, as well as broader macroeconomic factors such as anticipation of Federal Reserve policy developments [2]. Rekt Capital, however, views the current price consolidation as a “healthy breather” rather than a full reversal. The analyst noted that BTC is retesting critical support levels, including the previously broken Lower High resistance and the Range Low, which could determine the next price direction if they hold [3].

Despite the weakness in Bitcoin ETFs, Ethereum (ETH) tied funds have continued their momentum. ETH-linked ETFs recorded $331 million in inflows on July 23, extending their 15-day winning streak. BlackRock’s ETHA led the gains, driven by Ethereum’s recent surge to multi-month highs. Collectively, spot Ether ETFs have attracted over $4.44 billion in inflows since the start of the week, a record high. However, ETH’s price has shown signs of fatigue, trading just above $3,540 and down 8% from its intraweek peak [4].

The market’s mixed performance highlights a divergence between product inflows and underlying price action. While Bitcoin ETFs have historically benefited from BTC’s upward momentum, recent outflows suggest growing investor caution amid price stagnation. This dynamic is mirrored in the broader crypto market, where altcoins like Solana (SOL) have seen reduced volume and ETF inflows compared to earlier in the year [5]. Some reports suggest ETF-driven demand has outpaced natural supply, creating temporary imbalances that could exacerbate volatility. However, on-chain data has yet to confirm significant liquidity constraints [6].

Looking ahead, the Polymarket crowd estimates a 36% probability of Bitcoin reaching $125,000 by July 31, though only 11% of traders expect it to surpass $130,000. Analysts emphasize that a sustained break above $120,000 could reignite bullish momentum, while a drop below $115,000 may trigger further selling, particularly if macroeconomic risks materialize [7]. The interplay between ETF flows and BTC’s price action remains a focal point for institutional adoption. While ETFs have democratized crypto access, their current performance underscores a shift toward risk management over speculation, aligning with traditional markets’ defensive positioning ahead of earnings season [8].

Sources:

[1] [Bitcoin ETFs extend losses for third day as BTC struggles under $120,000](https://crypto.news/bitcoin-etfs-extend-losses-for-third-day-as-btc-struggles-under-120000/)

[2] [Bitcoin Price Analysis: BTC Holds Above $118000](https://cryptodaily.co.uk/news-in-crypto/bitzo:bitcoin-price-analysis-btc-holds-above-118000-but-120000-a-bridge-too-far-for-now)

[3] [Bitcoin slips below $117000 amid ETF outflows](https://m.economictimes.com/markets/stocks/news/bitcoin-slips-below-117000-amid-etf-outflows-all-eyes-on-fed-chair-powell/articleshow/122830210.cms)

[4] [Altcoin breakout? ETH outpaces BTC in volume, demand, and ETF flows](https://decrypt.co/331531/crypto-rally-stalls-correction-ahead-macro-noise)

[5] [Bitcoin Outlook: Why the Price Surged and What's Next](https://www.fxempire.com/forecasts/article/bitcoin-outlook-why-the-price-surged-and-whats-next-1535923)

[6] [Genius: 3 Top Crypto ETFs](https://seekingalpha.com/article/4803200-genius-3-top-crypto-etfs)

[7] [$125K Bitcoin Incoming? Polymarket Crowd Thinks It's Likely](https://www.mitrade.com/au/insights/news/live-news/article-3-978257-20250723)

[8] [Bitcoin’s rise in 2025 breaks the 2017 and 2021 pattern — should traders be watching this crucial indicator?](https://crypto.news/why-is-crypto-down-today-btc-eth-xrp-in-red)