Bitcoin traded below $65,000 on Sunday, registering a slight decline over the past 24 hours, amid competition between strong inflows from US ETFs and concerns about the shutdown of the minority BIP-110 chain.
US-based Bitcoin and Ethereum ETFs attracted combined inflows of $1.1 billion last week, their strongest performance since April, although trading volume remained near multi-year lows. Bitcoin was trading at $64,800.00 as of 7:54 AM, down 0.28%.
Bitcoin funds raised $853.5 million over five consecutive sessions through Friday, the largest weekly inflow since April 17. BlackRock Inc.'s IBIT fund contributed $693.7 million, or more than 80% of the total, while Fidelity's FBTC fund added $116.4 million.
Ether spot ETFs attracted inflows of $244.9 million, extending their positive streak to five consecutive weeks, the longest in 2026. Thursday saw the largest single-day inflow during that period, at $92.2 million.
Bloomberg Intelligence analyst Eric Balchunas noted that several Bitcoin funds have recorded positive daily inflows since the Coldcard vulnerability emerged on July 30. Galaxy Research estimated that 1,719 Bitcoins, worth approximately $111 million, were stolen, warning that total losses could exceed $130 million.
Demand weakened toward the end of the week after US payroll data unexpectedly fell by 23,000 jobs, instead of the anticipated increase of 80,000. Trading volume in Bitcoin-linked ETFs declined by 9% to $8.19 billion, the second-lowest full-week total since October 2024.
These funds have remained in negative territory since the beginning of the year. Bitcoin-linked ETFs have recorded net outflows of approximately $4.44 billion since January, while Ether products have lost nearly $873 million.
In a separate development, the controversial BIP-110 fork effectively ceased operations after producing only two blocks in approximately eight hours. During the same period, the Bitcoin main chain advanced 48 blocks, revealing the limited mining capacity of the splinter network.
BIP-110 aims to restrict images, text, and other non-payment-related data in Bitcoin transactions for one year. The mandatory signaling period began at block 961,632, prompting supporting nodes to reject blocks that did not signal approval.
Only 2.53% of newly mined blocks supported this proposal, a figure far below the required 55% threshold. The minority chain inherited Bitcoin's mining difficulty level but lacked sufficient hashing power to consistently produce blocks. The next difficulty adjustment was estimated to occur in approximately 350 days at the current rate.
Both chains still accept the same transactions, exposing owners who attempt to sell forked coins to reboot attacks that could also result in the transfer of their real BTC balance.
Cryptocurrency prices today: Mixed performance for most altcoins on Sunday
Regarding the broader cryptocurrency market, most alternative currencies had mixed results amid light trading on Sunday.
Ether, the world's second-largest cryptocurrency, fell 0.07% to trade at $1,915.52.
XRP was trading at $1.03 and recorded a decrease of 0.25%.
Solana rose 1.98% during the session and was trading at $76.28.
Cardano also declined, recording its latest drop of 1.05%.
Regarding meme coins, Dogecoin fell by 0.44%, while $TRUMP rose by 0.54% during the day.
