Bitcoin News Today: Bitcoin ETFs Record $333M Outflows as BTC Faces Correction Below $115,000

Bitcoin remains confined below the $115,000 level as spot Bitcoin ETFs face a sharp selloff, with over $333 million in outflows recorded on August 4[1]. BlackRock’s IBIT and ETHA accounted for 84% of the outflows, signaling a shift in institutional sentiment and raising concerns about the sustainability of the ongoing bull market. According to data from SoSoValue, Fidelity and Grayscale also experienced significant outflows, losing around $49 million in Bitcoin[1]. Julio Moreno, Head of Research at CryptoQuant, notes that while the bull market is not over, BTC is currently undergoing a period of consolidation and correction following a wave of profit-taking[1].

Bitcoin’s price action reflects the sell pressure, with the cryptocurrency briefly surpassing $115,000 on Tuesday before retreating below $112,000. It later recovered to close at $114,135, but has struggled to regain upward momentum[1]. Analysts highlight two key indicators of shifting sentiment: long-term holders locking in profits and a rise in taker sell volume on futures contracts, both of which suggest that prices may have reached a local top[1]. Options data further supports this bearish shift, with the 30-day skew dropping from +2% to -2%, signaling increased hedging against potential declines[1].

Institutional investors are also pulling back, with over $1.2 billion withdrawn from spot Bitcoin ETFs in the past two days[1]. Georgii Verbitski, founder of TYMIO, predicts that sideways trading is likely through August before momentum resumes[1]. Meanwhile, Galaxy Digital founder Michael Novogratz warned that the trend of companies forming to accumulate Bitcoin has likely peaked, potentially limiting liquidity for new entrants[1]. Fidelity’s director of global macro, Jurrien Timmer, echoed caution, noting weak market breadth and a concentration of gains in a few stocks[1].

Amid the market turbulence, Indonesia is exploring the use of Bitcoin as a reserve asset. Bitcoin Indonesia met with government officials, including representatives from the Vice President’s office, to present a strategy that could leverage the country’s hydroelectric and geothermal resources to support Bitcoin mining and economic growth[1]. The group also referenced Michael Saylor’s projection that Bitcoin could reach $13 million by 2045, though this remains a long-term forecast and not a current market indicator[1]. The meeting underscored a growing awareness of Bitcoin’s potential in the region, with officials expressing interest in both Bitcoin mining and education initiatives to drive adoption[1].

Despite these developments, Bitcoin remains in a state of flux, with price hovering around $115,235 as buyers attempt to reclaim the $115,000 level[1]. The recent price swings reflect a tug-of-war between buyers and sellers, with the latter currently holding the upper hand. As the market digests macroeconomic uncertainty and institutional outflows, BTC’s next move will depend on whether buyers can establish a sustained bullish trend or if further corrections are in store[1].

Source: [1] Bitcoin Price Analysis: BTC Pinned Below $115,000 As ETFs Lose Millions (https://bitzo.com/2025/08/bitcoin-price-analysis-btc-pinned-below-115000-as-etfs-lose-millions)