Bitcoin Price Holds Steady Amid Record ETF Outflows

Bitcoin's price has stabilized at around $63,968 after experiencing a 0.52% decline in value over the past day.

The cryptocurrency currently sits above its key short-term moving averages but remains below medium and long-term averages.

US-listed spot Bitcoin ETFs have seen record net outflows of $6.4 billion over the past 30 days, reflecting a decrease in institutional appetite for Bitcoin due to increased US inflation and geopolitical tensions.

The mixed momentum signals from technical indicators suggest that a sideways price action is likely in the $60,741, $66,079 range over the next few days.