Spot Bitcoin ETFs Have Seen $320 Million in Net Outflows So Far in August

On August 19, 10x Research said in its latest analysis that cryptocurrencies still have profit potential, but traditional buy-and-hold strategies no longer work. As of August, Bitcoin ETF flow records have reached the eighth month. August will be the second worst month so far, with an outflow of $320 million, second only to $345 million in April. Despite strong inflows of $2.1 billion and $3.2 billion in May and July, respectively, these inflows have proven to be unsustainable. As Bitcoin waits for a more important macroeconomic catalyst, ETF flows have failed to ignite bullish sentiment. Other segments of the crypto market are facing billions of dollars in potential outflows.