Bitcoin ETFs have seen a cumulative outflow of $969 million, and the Coinbase premium has been negative for 70 consecutive days.

CryptoQuant analyst Axel Adler Jr. said that U.S. Bitcoin ETFs saw a cumulative outflow of $969 million over five trading days, a decrease of $766 million over a week, and that the index has been at that level or lower for only 15% of trading days in the past year. The Coinbase premium is -0.14%, having been negative for 70 consecutive days and reaching its lowest level in the past year, reflecting weak demand in the US spot market. A similar pattern occurred on July 2, 2026, when Bitcoin was priced at $61,560, and the price rose 2.1% a month later.