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Today, on August 22, the price of bitcoin BTC $79,442.00 Bitcoin 0.72% Market capitalization $1.59 trillion VOL. 24 hours $1.08 billion fell to the critical support level of $ 112,000 amid the fifth consecutive day of outflows from spot bitcoin ETFs. On August 21 alone, $ 195.9 million was withdrawn, which creates a risk of further drops to the next significant level of $ 108,000 if the current support is broken.
The largest outflows were recorded by the BlackRock IBIT fund — $ 129.07 million. The ARK Invest ETF (ARKB) lost $ 43.28 million, and Fidelity FBTC lost $ 31.77 million. Thus, it was the largest players that drove capital outflows, which coincided with a technical breakdown on bitcoin’s charts.
At the same time, not all funds experienced outflows. The Franklin EZBC ETF received $ 3.25 million in new investments, and Grayscale mini BTC recorded an inflow of $ 4.97 million. This indicates selective investor interest despite the generally negative market sentiment.
Analysts note that the steady trend of sales in large institutional funds creates a double pressure on the price — both through direct impact on market demand and technical factors.
Technical analysis experts warn that if bitcoin confidently falls below $ 112,000, it could trigger an accelerated drop to $ 108,000. At the same time, further redemptions of investors from ETFs could accelerate this movement, as funds will have to sell the corresponding volumes of bitcoin to fulfill withdrawal requests.