Bitcoin Falls Below $64,000 as ETF Outflows Accelerate Ahead of Fed Decision

The world’s largest cryptocurrency slipped below the $64,000 level in late July, reaching lows near $59,000 and triggering roughly $87 million in leveraged liquidations. Long‑term Bitcoin holders now control a record 15.5 million coins, about 40 % of which sit in unrealized loss, a pattern often seen at market cycle bottoms.

At the same time, U.S. spot Bitcoin exchange‑traded funds posted net outflows exceeding $200 million after a week of inflows, with BlackRock’s iShares Bitcoin Trust (IBIT) accounting for the bulk of the withdrawals. The outflows coincided with rising U.S. Treasury yields, heightened expectations of a Federal Reserve rate hike, and broader risk‑off sentiment driven by geopolitical tensions in the Middle East and new U.S. tariff measures. These macro pressures have depressed risk appetite, pushing Bitcoin lower despite continued institutional demand.