Crypto Market Update: ETF Outflows Cap Bitcoin Price Rebound

Bitcoin (BTC) was priced at US$67,616.16, up by 1.6 percent over the last 24 hours.

The price of Bitcoin steadied above US$67,000 after briefly testing support near US$65,900, attempting a modest rebound following two consecutive weeks of losses.

The move has been tentative, with momentum capped by a clear deterioration in institutional demand.

US-listed spot Bitcoin exchange-traded funds (ETFs) saw roughly US$296 million in net outflows last week, snapping a four week run of inflows and marking a shift back to distribution.

The largest single-day redemption came from the iShares Bitcoin Trust ETF (NASDAQ:IBIT).

Macro conditions remain the dominant driver for Bitcoin. Rising oil prices have reinforced inflation risks and pushed expectations for interest rate cuts further out. US treasury yields have climbed for a fourth straight week, only recently stifled by a postponed Iran peace deal, while a firmer US dollar continues to pressure risk assets.

The capped rebound points to continued geopolitical uncertainty tied to the Middle East conflict, which has added another layer of caution, keeping positioning defensive across markets.

Ether (ETH) was priced at US$2,061.26, up by 3.6 percent over the last 24 hours.

Altcoin price update

• XRP (XRP) was priced at US$1.36, up by 1.4 percent over 24 hours.

• Solana (SOL) was trading at US$84.45, trading 2.4 percent higher over 24 hours.

Today's crypto news to know

UK freezes US$20 billion crypto crime network

UK authorities have moved to dismantle one of the largest crypto-enabled fraud ecosystems on record.

Authorities have sanctioned Xinbi — a marketplace linked to nearly US$20 billion in illicit flows over four years — by effectively cutting the network off from the global financial system, freezing assets and prohibiting any UK-linked transactions across banks, exchanges and payment providers.

The crackdown also names key individuals and entities tied to large-scale scam operations, including infrastructure linked to trafficking compounds in Southeast Asia.

Crypto firm files for bankruptcy after US$328 million fraud allegations

Crypto firm Goliath Ventures has filed for Chapter 11 bankruptcy following the arrest of its founder.

Prosecutors accuse CEO Christopher Delgado of running a multi-year Ponzi scheme that raised at least US$328 million from more than 2,000 investors by promising returns from crypto liquidity strategies. Instead, funds were allegedly recycled to pay earlier investors and finance luxury assets, including multimillion-dollar properties.

The bankruptcy filing will allow the firm to restructure while investigations continue, rather than immediately liquidating assets. The case has also drawn in major financial institutions, with lawsuits alleging failures to flag suspicious transaction activity.