Bitcoin News
By Evie Vavasseur
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Who's Buying, Who's Selling. Long-term holders kept accumulating through the drop. Short-term holders didn't.
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ETF Outflows and Options Market Positioning. U.S. spot Bitcoin exchange-traded funds recorded a combined net outflow of $61.5 million.
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Macro Pressure Points. The economic backdrop isn't making things easier. Second-quarter GDP grew at 1.
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Bitcoin cracked below $63,000 at the start of August. Two consecutive daily closes under that level confirmed the move wasn't a blip — it's a real pullback after a solid July.
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July itself wasn't bad at all. Bitcoin gained 7.3% that month, which lined up with historical seasonal patterns.
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Long-term holders kept accumulating through the drop. Short-term holders didn't. They trimmed positions near their purchase prices, which is basically what short-term holders…
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Spot trading volumes dropped to levels last seen in late 2023. That's a meaningful data point. It's not panic selling — it's more like the market just went quiet.
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U.S. spot Bitcoin exchange-traded funds recorded a combined net outflow of $61.5 million. That ended three straight weeks of consecutive inflows — a streak that had suggested…
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The options market is telling a similar story. Traders are paying higher premiums for downside protection right now. And yet implied volatility sits near multi-year lows.
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That gap between hedging behavior and volatility expectations is worth watching. It can close fast if macro conditions shift.
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Read also: Coldcard Firmware Flaw Drains 1,367 Bitcoin Across 4,585 Wallets
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The economic backdrop isn't making things easier. Second-quarter GDP grew at 1.5%, with private domestic demand rising 3.
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The 10-year real yield hit 2.41%, nearing what analysts consider a critical threshold for assets that don't produce income.
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Consumer spending and AI investment kept the GDP number respectable, but the inflation data is the harder problem. A 5.
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Short-term traders are navigating all of this simultaneously — the on-chain accumulation data, the ETF outflow, the options skew toward puts, and a macro picture that's neither…
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