BTC is around $63.3K at the time of writing, with ETH near $1,625 and SOL around $78. Prices are falling, but I do not think this is only about people suddenly leaving crypto.

US Bitcoin ETFs received about $499M from July 20–22, then lost around $477M over the next three reported trading days. That basically cancelled most of the earlier inflows. Stablecoin supply is also still near $308B, but it barely grew over the past week.

So the money has not completely disappeared. It looks more like capital is sitting on the side and waiting.

The Fed meeting may be part of the reason. Markets still see a real chance of a rate increase, while the dollar is near a one-month high. Both can make people less willing to hold risky assets.

Personally, I would watch ETF flows after the Fed meeting. If inflows return but BTC remains weak, that would be more worrying than today’s price drop.

What are you watching this week?

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