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$62,800 per coin (reported, Aug. 14) is where Bitcoin ($BTC) settled after ranging between $60,000 and $65,000 for the seven days ended Aug. The weekly high printed at $64,800 and went no further.
The Clarity Act, the crypto-friendly legislation that briefly looked like a near-term catalyst, has been shelved in Washington. Spot Bitcoin ETFs gathered $850 million in inflows over the week, a four-month high.
That follows close to $5 billion in outflows during June. Institutional money is returning to the same flat market it left.
What moved on-chain Glassnode data shows miner fee revenue as a share of total miner income fell to 0.52%, the lowest reading since 2016.
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