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Traders attribute Bitcoin's sell-off from $65,000 to thin volume and stalled participation, not panic selling, citing negative ETF flows and MicroStrategy's fifth consecutive week of no buyi
ARP Digital partner Yusuf Fakhro noted that Bitcoin's weakness reflects stalled market participation more than forced selling. This comes as ETF flows turned negative, with nearly 4,000 BTC in net outflows for the week, and CME open interest returned to 2023 levels. Additionally, July recorded the lowest average daily spot volume since November 2023, and MicroStrategy (Strategy) has paused its Bitcoin purchases for a fifth straight week. Bitcoin traded near $62,700 on Monday, down 3.5% on the week, after failing to reclaim $65,000.
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