Bitcoin funds see 6-week outflows

Crypto exchange-traded Bitcoin funds experienced their largest outflows since late June, losing $389.7 million during the week beginning August 10. This follows a prior week that saw inflows of $853.5 million, driven by investor concerns over rising interest rates and delays in legislating the regulation of the digital asset market in the United States. Additionally, the cryptocurrency's price dipped near $63,400, with the implied volatility index falling to 37 points, following a temporary shift toward financial funds due to a security breach in "Cold Card" wallets. Caution remains prevalent among institutions, with expectations of ongoing pressure on digital asset prices in the future.

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