Bitcoin rose $323 from $59,639 to $59,962, a flat +0.62% session after Thursday's lows near $58,000.Not noise. ETF outflows hit $692 million in a single day, 1.91 standard deviations below the 30-day average, while RSI reached 31.67, Strategy's mNAV dropped below 1, and price closed the week down 5.57%. Multiple risk indicators converged on a deteriorating near-term picture. Today's flat session is stabilization after damage, not a clear turn.
Spot Bitcoin ETFs shed $692 million in a single session, the largest single-day outflow since May, extending a six-day streak of withdrawals driven by hot PCE data and Fed rate fears.
Strategy's enterprise mNAV fell below 1 and STRC hit a record low of $71.40, roughly 25% below par, removing the speculative premium layer that had amplified Bitcoin demand in the prior cycle.
RSI-14 compressed to 31.67 and price sits 14.1% below the 50-day SMA of $69,825 and 20.9% below the 200-day SMA of $75,840, confirming a sustained technical breakdown rather than an intraday event.
Galaxy Research cut CLARITY Act passage odds to 50-50, citing dwindling time before Congress's August recess, reducing near-term probability of a US legislative framework for digital assets.
Bitcoin's hashrate held at 972 EH/s and network fees remain at 1 sat/vB, confirming the Bitcoin network itself is operating normally; the deterioration is in capital flows and positioning, not in network fundamentals.
Market Snapshot
Market Cap
$1.20T
24h Volume
$39.49B
Dominance
55.7%
Founding Member
Join as one of the first 100 founding members and get full Pro access, free, permanently.