Bitcoin Drops Below $63K as ETF Outflows Persist Despite Cooling Inflation

Woofun AI reports that Bitcoin (BTC) and Ether (ETH) faced downward pressure as spot exchange-traded funds recorded sustained outflows, contrasting sharply with gains in U.S. equities, the S&P 500, and the Nasdaq 100.

The first back-to-back days of outflows since late July saw $192 million exit products, according to data. Consequently, Bitcoin slipped below $63,000, a 1.14% decline since midnight UTC. This drop erased last week's rally, marking the lowest trading point since Aug. 3.

Woofun AI data shows that structurally, altcoin market resilience diverged from crypto majors, with Ether down 0.73%.

Meanwhile, U.S. equities rallied on Thursday after producer price inflation cooled to 4.7%. This data beat forecasts, driving traditional market strength.

Futures on the indexes remain marginally in the black, yet bullish catalysts are absent. This divergence highlights a persistent risk where macroeconomic relief fails to translate into crypto asset recovery.