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Bitcoin slips below $65,000 as ETF inflows offset fork concerns

investing.com ·

Bitcoin slips below $65,000 as ETF inflows offset fork concerns

Bitcoin slipped under $65,000 on Sunday, following a small decline from the prior 24 hours, despite substantial inflows into U.S. exchange-traded funds (ETFs) and concerns over the stalled BIP-110 fork. Spot Bitcoin and Ether ETFs combined to draw in $1.1 billion over the previous week, marking their best performance since April, even as trading volume remained near multi-year lows.

Bitcoin was pricing in at $64,800.9 as of 04:54 ET, down 0.28%. During a five-day span ending Friday, Bitcoin funds amassed $853.5 million, the highest weekly inflow since April 17, with BlackRock's IBIT contributing $693.7 million, accounting for more than 80% of the total. Fidelity's FBTC added $116.4 million. Spot Ether ETFs collected $244.9 million, extending their winning streak to five weeks, the longest since 2026.

The week saw $92.2 million of inflows on Thursday, the largest single-day inflow during that period. Analyst Eric Balchunas from Bloomberg Intelligence pointed out that several Bitcoin funds had been receiving daily inflows since the July 30 Coldcard exploit was revealed. Galaxy Research estimated that 1,719 Bitcoin, worth around $111 million, had been stolen, predicting that total losses could surpass $130 million.

Demand softened over the weekend following U.S. payrolls falling unexpectedly by 23,000 instead of the anticipated 80,000 gain. ETF turnover for Bitcoin waned 9% to $8.19 billion, the second-lowest full-week total since October 2024. Bitcoin ETFs have collectively experienced approximately $4.44 billion in net outflows since January, while Ether products have suffered roughly $873 million in losses.

Meanwhile, the contentious BIP-110 fork effectively halted after generating only two blocks in roughly eight hours, compared to 48 blocks produced by Bitcoin's primary chain. The minority chain, which aimed to limit non-payment data in Bitcoin transactions for a year, saw only 2.53% of recently mined blocks support the proposal, falling short of the required 55%.

The minority chain, inheriting Bitcoin's mining difficulty, lacked sufficient hash power to regularly produce blocks, with its next difficulty adjustment estimated to be around 350 days away. Despite sharing identical transaction compatibility, holders who attempt to sell forked coins may face replay attacks that could also transfer their genuine BTC.

In the broader crypto market, most altcoins exhibited mixed results amid light Sunday trading. Ethereum fell 0.07% to trade at $1,915.52, while Ripple was trading at $1.0333, down 0.25%. Solana rose 1.98% for the day at $76.28, while Cardano saw a decline, down 1.05%. Among smaller tokens, Dogecoin dropped 0.44%, while $TRUMP increased by 0.54%.

Written by urgent.news from Investing.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

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In light of the above, this report aims to examine the legislative necessity and appropriateness of the proposed Stock Price Suppression Prevention Act and to provide a legislative improvement plan for the Capital Market Act. To this end, this report first examines the current status of the Capital Market Act and the problems of the current system, and then examines the legislative necessity and appropriateness of the proposed Stock Price Suppression Prevention Act. Next, this report analyzes the problems of the proposed Stock Price Suppression Prevention Act and suggests a legislative improvement plan for the Capital Market Act. Finally, this report concludes with an evaluation of the legislative improvement plan and provides a conclusion. The report consists of a total of 56 pages, including 5 chapters and 1 conclusion. Chapter 1 introduces the background and purpose of the research, and Chapter 2 examines the current status and problems of the Capital Market Act. 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·hani.co.kr

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