Bitcoin Eyes $65K, Wiping Out Losses as Spot ETFs See $95M Outflow

Bitcoin surged to $64,500, erasing earlier weekly losses and targeting the $65,000 mark amid renewed Middle East tensions. Spot bitcoin funds shed approximately $95 million on Thursday, while ether funds lost $52 million, ending the sector’s recent institutional inflow momentum.

Spot ETF Outflows Signal Shifting Risk Appetite

Spot bitcoin ETFs experienced a $4.5 billion outflow in June, among their worst months since launch. Analysts attribute this to a rotation toward AI infrastructure, with U.S. hyperscalers on track to invest $725 billion this year, 75% of which flows into chips, servers, and data centers.

Crypto Stocks Ride the AI Wave

■Circle Financial (CRCL) jumped 15% after securing regulatory approval for a national trust bank.

■Strategy (MSTR) rose 6.5%, reclaiming the $100 level, with its preferred stock STRC up 1.1% to $86.63.

■Coinbase (COIN) and Galaxy Digital (GLXY) gained over 5%, while Bullish (BLSH) advanced 2%.

■SK Hynix's $26.5 billion ADR debut on Nasdaq, driven by 7x oversubscription, underscores investor appetite for AI-linked semiconductors.

Bitcoin vs. Gold Ratio: A Technical Battle

The Bitcoin-to-gold ratio reached 15.67, indicating one bitcoin equals 15.67 ounces of gold. Since February, Bitcoin has outperformed gold by 28%, with the 16 threshold (200-day SMA) acting as a critical resistance. A sustained breakout could signal bullish momentum.

These market rotations highlight a temporary shift in risk appetite, as crypto assets lose favor amid AI-driven infrastructure bets. However, regulatory uncertainty and macroeconomic volatility continue to test the sustainability of this trend. Deniz Arel, Director of Crypto Regulation and Compliance