At the time of writing, the price of digital gold stands at $62,564 (-1.6% over the past 24 hours), according to forklog.com.
On July 31, spot Bitcoin ETFs recorded a net outflow of $265.37 million.
At the same time, Ethereum-based instruments attracted $9.03 million, while XRP- and Solana-based funds received $7.69 million and $395,390, respectively.
Pressure from U.S. institutional investors continues. The Coinbase Premium Index has been in negative territory for 77 consecutive days—the longest period on record.
Marcus Tilen, head of 10x Research, noted in a comment to Cointelegraph that U.S. institutions continue to sell assets. Selling pressure persists despite the resumption of capital inflows into Bitcoin ETFs in July.
The situation was exacerbated by news of a firmware vulnerability in Coldcard hardware wallets. The incident triggered a record surge in negative sentiment on social media. According to Santiment, the fear index exceeded levels seen during the FTX exchange collapse.
Traders began to doubt the reliability of cold storage, which had been considered the safest way to store assets.
Santiment noted that for every positive comment about Bitcoin, there were 1.72 negative posts. The ratio of bullish to bearish sentiment fell to 0.58 to 1.
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