The persistent discount suggests US spot buyers have remained less aggressive than overseas traders even as US Bitcoin ETF inflows turned positive in July.

Spot Bitcoin ETFs attracted $172.4 million in July inflows but remained $5.3 billion negative year to date after heavy withdrawals in May and June.

TIPS data points to rising real yields, not inflation, a dynamic that weighs on non-yielding assets like Bitcoin.

Bitcoin saw fresh downside pressure as US stocks tracked sideways into the end of the month, diverging from the relief bounce seen in Asia.

The Japanese yen crosses a key psychological level after the country’s central bank reportedly conducted a major currency intervention.