Bitcoin ETF Outflows Resume at $85M, PepsiCo Cuts Prices Fail to Lift Growth

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Let's get into it. Bitcoin spot ETFs reversed Wednesday with 85 million in net outflows, snapping a three-day streak that accumulated over 500 million. BlackRock's IBIT shed 59 million, Grayscale's GBTC lost 64 million, and Fidelity's FBTC declined 15 million. Bitcoin is trading at $62,585, down about 3% as traders cut risk ahead of the Fed's July 29 policy statement. Ethereum ETFs continue outperforming with 70 million in inflows for a fifth consecutive session. Fidelity's FETH led with 69 million. Ethereum is at $1,741.
The pressure is coming from multiple fronts. The US 10-year Treasury yield hit 4.60% Wednesday, a seven-week high, up over 10 basis points in July. Oil spiked 5% on U.S.-Iran military escalation, raising inflationary concerns and reducing prospects for rate cuts. PepsiCo beat earnings expectations with revenue of $24.18 billion and core EPS of $2.20.
But the stock dropped 1.1% in premarket trading. The company didn't raise full-year guidance despite the beat. North America remains the problem. Beverage volume fell 4%, continuing a decline streak since Q3 2022 International operations posted double-digit growth. Year-to-date, Pepsi is down 0.7%, while Coca-Cola is up 19.3%.
Micron Technology announced its accelerating US fab investments to over $250 billion through 2035, driven by surging AI-era memory chip demand. Bottom line, crypto faces headwinds from rising yields, geopolitical risk and persistent capital rotation into AI. Watch the $60,000 support level on Bitcoin and the Fed Minute's trajectory as we approach the July 29 meeting. That wraps your market intel. Trade smart out there. For deeper insights and real-time analysis, visit capitalcopilot.io.