Over the past 24 hours, Bitcoin has lost 1%, dropping to $64,000. Meanwhile, South Korean stocks showed a sharp rebound following a sell-off.
At the time of writing, Bitcoin is trading at $63,800.
The rest of the market is also experiencing a lull with a slight correction. Over the past week, HYPE has lost 6%, while Solana and XRP have each dropped 2%. Ethereum’s price has remained mostly unchanged.
Digital assets largely ignored the rally in Asia. On July 31, South Korea’s Kospi index rose 17% after a two-day decline, during which it fell more than 40% from its June peak.
Meanwhile, shares of SK Hynix rose 22%, Samsung gained 5%, and Taiwan Semiconductor increased 7%.
The weakness in the crypto market may also be influenced by a quarterly report from Strategy, in which the company announced plans to continue selling Bitcoin, as well as reports of a theft of 594.48 BTC from Coldcard hardware wallets.
ETF Inflows
According to SoSoValue, on July 30, U.S. spot Bitcoin ETFs attracted $233.1 million, bringing the partial weekly result back into the positive. The net inflow over the last four trading days was $203.84 million.
The majority ($183.4 million) was contributed by BlackRock’s IBIT fund. Bitwise’s BITB attracted $20.7 million, and Fidelity’s FBTC brought in $15.5 million.
Spot Ethereum ETFs attracted $13.3 million in a day. This week, investors have shown noticeably less interest in the second-largest cryptocurrency by market capitalization.
Earlier, ARK Invest analyst Lorenzo Valente commented on the largest consolidation in the crypto market.
