Bitcoin funds see $465M outflow

Bitcoin funds traded in the United States declined after seven weeks of positive inflows, as investors withdrew more than $465 million at the end of July amid anticipation of the U.S. interest rate hike and rising concerns over tightening monetary policy. Despite this, Bitcoin regained some of its gains and surpassed the $65,000 level following optimism about the "Clarity" bill, which aims to regulate the cryptocurrency market, although ongoing economic uncertainties and expectations of higher interest rates continue to exert pressure. Data showed that the past week also saw internal inflows of $33.8 million, with a gradual return of investors, but persistent tensions between opposing and supportive factors are fueling expected market volatility.

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