Cryptocurrency Price Movements Today: Bitcoin Drops Below $65,000 Amid U.S. Selling Fears

Bitcoin (BTCUSD) has sharply reversed this week's upswing, dropping beneath $65,000 aft rising supra $71,000 connected Monday.

The value reversal began aft 10,000 bitcoins that blockchain intelligence patient Arkham Intelligence said are tied to nan U.S. authorities were moved connected Monday, pointing to a imaginable ample waste of bitcoin.

Notably, this activity of costs followed pushes by U.S. statesmanlike candidates Donald Trump and Robert F. Kennedy Jr., and U.S. Senator Cynthia Lummis to found a bitcoin strategical reserve complete nan weekend.

Shares of Grayscale's Bitcoin Trust (GBTC) saw their worth driblet by much than 10%, mostly driven by nan spin-off of 10% of nan bitcoin held by nan ETF to seed a smaller and lower-fee Grayscale Mini Bitcoin Trust. GBTC investors arsenic of July 30, will person 1 stock of nan caller ETF for each GBTC stock they own.

Despite nan caller value drop, spot bitcoin ETFs saw $124.1 cardinal of nett inflows connected Monday, pinch BlackRock's iShares Bitcoin Trust (IBIT) having $205.6 cardinal of inflows, according to Farside Investors. The spot ether (ETHUSD) ETF marketplace continued to suffer from Grayscale Ethereum Trust (ETHE) outflows, arsenic $210 cardinal flowed retired of nan money connected Monday and nan spot ether ETFs saw $98.3 cardinal successful outflows collectively.