Bitcoin Holds Above $64,000 as Spot ETFs See Record $4.5 Billion Monthly Outflows
Bitcoin traded near $64,479 on July 30, 2026, gaining 1.63% over the past 24 hours as markets positioned ahead of the Federal Reserve interest rate decision. The recovery above the psychologically important $64,000 level came despite a troubling milestone in institutional flows: U.S.-listed spot Bitcoin ETFs recorded their largest monthly outflow on record at approximately $4.5 billion in July.
According to data from Galaxy Research, the outflows represent a sharp reversal from earlier in the month, when ETFs had recorded net inflows on 11 of the first 17 trading days, accumulating approximately $234 million month-to-date through mid-July. The deterioration accelerated dramatically in the final week, with combined outflows of $515-$526 million across just four trading sessions from July 23-27.
BeInCrypto data revealed that Bitcoin ETFs shed approximately 3,170 BTC over the week, while Ethereum spot ETFs recorded net inflows of around 37,959 ETH, extending Ethereum weekly inflow streak. This divergence has sparked discussion about a potential institutional rotation from Bitcoin to Ethereum, though some analysts caution against reading too much into short-term flow data.
Despite the concerning ETF flows, Bitcoin derivatives market painted a more balanced picture. Futures open interest held steady at $47.27 billion, down just 0.38% over two days – suggesting traders were not aggressively reducing exposure. Perpetual funding rates remained positive at 0.0065% per 4 hours (14.28% annualized), indicating mild bullish positioning without reaching overheated levels that typically precede sharp corrections.
Liquidation data showed $22.54 million in short liquidations versus $16.49 million in long liquidations over 24 hours, with shorts accounting for 57.8% of forced closures. This asymmetry suggests Bitcoin experienced at least one upward squeeze that caught bearish traders off guard. The Fear and Greed Index sat at 28, deep in “Fear” territory, which contrarian investors often view as a potential buying opportunity.
The critical catalyst ahead is the Federal Reserve policy path. Prediction markets priced a 20-25% chance of a surprise rate hike at the July meeting, with the base case remaining a hold. Bitcoin sensitivity to macro conditions has intensified throughout 2026, and any hawkish surprise from the Fed could trigger another leg down, while a dovish tone could spark a relief rally toward the $66,000 resistance zone.