Bitcoin ETFs See $526.5M Outflows as Long-Term Holders Defend $64,000 Support Level

Bitcoin faces $526.5M in ETF outflows and weak futures demand, yet long-term holders maintain conviction, preventing a breakdown below the $64,000 support threshold.

Woofun AI data shows that Bitcoin experienced a simultaneous slowdown across three key demand channels near the $64,000 price level on July 29. US spot Bitcoin ETFs recorded combined net outflows of $526.5 million over four sessions, while Glassnode identified weakening perpetual futures buying and stagnant on-chain capital inflows.

Despite this demand weakness, long-term holders continue to provide support. Glassnode noted that these investors maintain conviction as aggregate unrealized losses decline modestly and realized losses ease. This holder buffer prevents the current demand shortfall from signaling a failure of support, though sustained breaks below the local range accompanied by increased distribution could weaken this stabilizing effect.