US Spot Bitcoin ETFs see $635 million net outflows as BTC nears estimated $81,500 cost basis

US spot Bitcoin exchange-traded funds recorded about $635 million in net outflows on Thursday, the largest daily outflow since June 25. This reversed nearly 60% of the inflows from the previous three trading sessions. BlackRock's iShares Bitcoin Trust (IBIT) led the selling with $254 million, followed by Fidelity's FBTC at $217 million, accounting for approximately 74.2% of the day's net outflows. The decline coincided with Bitcoin testing as low as $80,841, near the estimated $81,500 average acquisition cost for US spot Bitcoin ETFs, according to Glassnode.