The five-day creation run is over. Farside Investors printed a −$144.6 million net outflow from U.S. spot Bitcoin ETFs on August 10, the first red primary-market session after five straight green cash days that had stacked roughly $865 million of net share demand. Spot moved with the product table: BTC/USDT on Crypto.com Exchange settled Monday at $63,974.44, about $923 under Sunday’s $64,897.49 close. As of about 09:35 UTC on August 11 the pair last traded near $64,195. That Tuesday mark is still intraday on a forming daily candle.
From five green sessions to one red reopen
Walk the week that just closed, then the Monday reopen. Monday August 3 through Friday August 7 delivered +$170.1 million, +$211.5 million, +$244.4 million, +$137.6 million, and +$101.7 million. Sum those five lines and you get about $865.3 million of net creations. Monday’s −$144.6 million is the first redemption print of the young month, and it leaves about $720.7 million still net positive across the six cash sessions from August 3 through August 10. Farside’s lifetime total across the complex now sits near $52.1 billion.
The product mix was broad, not a single-fund accident. BlackRock’s IBIT redeemed −$53.6 million. Grayscale’s GBTC redeemed −$52.0 million. Fidelity’s FBTC was −$40.3 million, Bitwise’s BITB −$28.4 million, and Franklin’s EZBC −$7.4 million. The only clear green line was Grayscale’s smaller BTC product at +$37.1 million, which cut the complex total but did not flip it. When the three largest brand names and Bitwise all redeem on the same reopen, the aggregate table turns red even with one offsetting creation line.
Primary-market flow counts authorized-participant creations and redemptions of ETF shares, not every secondary trade on the tape. A −$144.6 million Monday ends the streak; it does not wipe the prior week’s demand for stock. CoinGlass’s fund-flow table, which tracks the same session in bitcoin terms, put Monday near −2,230 BTC (CoinGlass Bitcoin ETF flows).
Spot gave back the weekend mid-$64K hold
Settled Crypto.com 1D closes map the path into the redemption day. Friday August 7 closed $64,927.10. Saturday held $64,957.80. Sunday eased to $64,897.49. Monday then settled $63,974.44, a session that ranged about $63,811–$65,396 before locking the lower handle. Relative to Sunday, Monday closed about 1.4% softer and is the first settle under $64,000 since the August 3 cash reopen.
Tuesday’s candle is still forming. As of about 09:35 UTC on August 11, BTC/USDT last near $64,195 on Crypto.com, modestly above Monday’s settle, with the open session still working the low-$64Ks. Ethereum took a larger Monday hit: ETH/USDT settled $1,873.07 after Sunday’s $1,910.78, and traded near $1,878.93 at the same Tuesday snapshot. Those Tuesday marks are intraday; the August 11 daily candle does not settle until 00:00 UTC.
A first redemption day and a Monday settle that leaves the mid-$64K weekend band are one story told two ways. They reframe the next print: whether authorized participants return for stock after a multi-fund redemption day, or whether Monday was the start of a second red line.
Chart: five green days, then the Monday dip
The series pairs settled daily closes (and Tuesday’s still-forming candle) with the Crypto Fear & Greed Index. Price climbed through the inflow week into the high-$64Ks, then stepped down on the Monday outflow session before a modest Tuesday bounce.
BTC price vs the Crypto Fear & Greed Index, August 2–August 11. The August 11 point is an intraday read as of ~09:35 UTC, not a settled close. Sources: Crypto.com Exchange 1D candles and alternative.me.
Fear stays pinned near 30
The composite sat at 31 (Fear) on August 9, 30 on Monday, and 29 (still Fear) on August 11, per alternative.me. That is a flat-to-soft gauge through the streak break, not a plunge into Extreme Fear and not a relief spike. Creations ran for five sessions while the mood meter crawled only from the mid-20s into the low 30s; Monday’s redemptions arrived with the gauge still in the same band.
For a newcomer: primary-market ETF flow is the authorized-participant pipe into the listed products. Spot is the exchange tape. Fear & Greed is a daily composite of volatility, volume, social chatter, and other inputs. A five-day green stretch that ends on a −$144.6 million reopen, a Monday settle near $63,974, and a Fear reading still in the high 20s is a book that cooled at the product level without a sentiment collapse.
What Tuesday’s table cannot rewrite yet
The facts on the board are fixed until the next cash session settles into Farside’s table: five green days, about $865 million of net creations for that stretch, a Monday −$144.6 million redemption that ends the streak, and a Tuesday spot tape still working just above Monday’s settle. A second redemption day would deepen the product-level pause; a creation day would restart the green count. Neither outcome is priced here. This is a description of what printed and what the tape has done since, not a forecast and not financial advice.
