Bitcoin tracks equity bounce, but $390 million ETF outflow week keeps bulls on back foot
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- U.S. spot bitcoin ETFs shed a net $390 million across four days of outflows last week — the largest weekly withdrawal from these products in six weeks — including the first three-day streak since the end of July.
- Bitcoin steadied above $63,000 with a 0.8% gain since midnight UTC, tracking Nasdaq 100 index futures that climbed 0.5% to their highest level since July 2.
- Galaxy Digital's head of research Alex Thorn cut his odds on the Clarity Act becoming law in 2026 to roughly 10% on Aug. 14, down from 75% in May, joining prediction markets that now price it near 17%.
- Solana ETFs bucked the outflow trend with their strongest weekly inflows since mid-May, while ether ETF flows were limited.
- Bitcoin's $48 billion in notional open interest is nearly double its 24-hour trading volume, a gap the source flags as a thin-liquidity setup that would amplify any mass liquidation event.
- The Clarity Act faces a Senate cloture vote scheduled for Sept. 15, though the article notes market observers are expecting another delay.
- Market sentiment gauges show CoinMarketCap's Fear and Greed index at 38/100 (fear) while its Altcoin Season Index recovered to 46 from an Aug. 7 low of 36.
Why it matters: BTC's institutional thesis just lost two pillars at once: $390 million in weekly spot ETF outflows — the largest in six weeks — and Galaxy's cut to 10% on Clarity Act passage, stripping the 2026 timeline of a key regulatory catalyst ahead of the September cloture vote.
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