Bitcoin price tests $63K as ETF outflows hit $265M

Bitcoin price hovered near $63,000 on Aug. 1 as US ETF outflows, weakening momentum and regulatory uncertainty kept buyers on the sidelines. Summary Bitcoin price is testing the $63,150 Fibonacci support after retreating from July’s $66,900 high. US spot Bitcoin ETFs recorded $265 million in net outflows on July 31. 4-hour money flow fell to −0.22, indicating sustained selling pressure. Liquidation clusters near $62,000 and $65,000 could shape Bitcoin’s next move. Bitcoin price struggles to hold $63,000 According to data from crypto.news, Bitcoin (BTC) price traded at approximately $63,082 at the time of writing after briefly falling below $63,000 during the latest selloff. The asset has now erased most of its recovery from the July 21 high near $66,900. The daily chart places Bitcoin directly below the 78.6% Fibonacci retracement level at $63,150. This level is measured from the decline between the May peak of $82,492 and the June low of $57,884. Bitcoin price daily chart — Aug. 1 | Source: crypto.news A daily close below $63,150 would confirm that buyers failed to defend the retracement level. Bitcoin could then retest the $62,000 area, followed by the psychological $60,000 suppo...