BlackRock ETF Leads $225M Bitcoin Outflow After Buying Streak

US spot Bitcoin funds saw a sharp change of direction on July 23, recording $225 million in net outflows. This sudden shift brought a quick end to a seven session buying streak that had brought in nearly $1 billion over the previous week.

BlackRock took the lion share of the daily reversal. The iShares Bitcoin Trust posted $202 million in net outflows, making up roughly 90 percent of the total sector loss for the day. Five other funds combined for an additional $27 million in outflows, while Grayscale managed a small $5 million inflow.

Bitcoin prices dipped during the same session as the fund outflows hit the market. Even with the single day setback, the wider eight day period still shows a net positive balance of $774 million. Traders will now watch upcoming sessions to see if this turns into a longer trend or stays a simple market reset.