The daily chart placed Bitcoin directly below the 78.6% Fibonacci retracement at $63,150, measured from the May peak of $82,492 to the June low of $57,884; a daily close below that level would open the path to $62,000 and then the psychological $60,000 support. Four-hour money flow fell to โ0.22 and the daily RSI dropped to 45.12, below its moving average of 51.99, signaling sustained selling pressure without yet reaching oversold territory.
US spot Bitcoin ETFs recorded $265 million in net outflows on July 31, adding to a 19-day streak that pushed year-to-date flows into negative territory. Yet institutional accumulation persists: ETF purchases reached about 50,000 BTC in a rolling 30-day window โ the highest since October 2025 โ while Strategy added roughly 44,000 BTC, for a combined 94,000 BTC absorbed in March. That buying was overwhelmed by broader distribution estimated at 157,000 BTC over the same period, leaving 30-day apparent demand at negative 63,000 BTC.
Wallets holding 1,000โ10,000 BTC have flipped from accumulation to distribution, while 100โ1,000 BTC wallets are still accumulating.