Bitcoin Drops Below $63,000, Triggering Major ETF Capital Migration and a Shift in Institutional Allocation Logic

Bitcoin’s recent decline below the key $63,000 threshold has triggered a 38% pullback in related ETF products over four trading sessions, putting the capital advantages accumulated in prior periods under severe strain. According to data compiled by Woofun AI, Bitcoin’s price touched a low of $62,487 over the past 24 hours, with multiple Bitcoin ETFs experiencing significant outflows. Among them, the ARK 21Shares Bitcoin ETF (ARKB) led the outflows with $58.8 million, closely followed by Fidelity’s FBTC (FBTC) with $55.1 million, together totaling $113.9 million in outflows, accounting for 64.3% of the total outflows from the seven products that recorded redemptions.

In stark contrast to the aforementioned mainstream products, Morgan Stanley (MS) and Grayscale’s Mini Bitcoin Trust (BTC) have bucked the trend and attracted capital inflows.

At the same time, the overall hash rate of the Bitcoin network has experienced a notable retracement, declining approximately 17% from its all-time high. The core driver behind this macro phenomenon is the large-scale reallocation of resources by mining enterprises toward artificial intelligence infrastructure construction, resulting in a structural shift in the computing power that secures the network. Data compiled by Woofun AI shows that the current Bitcoin hash rate stands at 841 exahashes per second, below the record levels reached earlier this year.