US bitcoin ETFs post a third day of outflows

US spot bitcoin ETFs recorded $57.63 million in net outflows on Friday, August 14, the third consecutive day of withdrawals after a five-session inflow streak earlier in the month. BlackRock's IBIT fund accounted for the bulk of the redemptions at $55.51 million, followed by Fidelity's FBTC at $6.84 million; Hashdex's DEFI fund shed a further $1.42 million. Ether funds recorded no net flows over the same session.

Bitcoin traded below $63,000 during the session, pressing against the lower edge of the ascending price channel it has held since its June lows. The outflows follow a sharp reversal in fund flows: US spot bitcoin ETFs had pulled in $853.5 million over a five-session streak in early August, before demand turned in the second week of the month.

Three outflow days alone are unremarkable; what stands out is that they came as fund turnover thinned, leaving prices more exposed to the next flow swing.