Bitcoin Reclaims $64K as Spot ETF Flows Turn Positive After 8 Weeks

Bitcoin News

Spot Bitcoin (BTC) exchange-traded funds have flipped back to net inflows, ending an eight-week outflow streak that had drained more than $8 billion from the products. Fund-flow data shows roughly $200 million entered US spot Bitcoin ETFs last week, the first positive weekly print in two months, led by a single-day intake of $265.7 million on Monday. Ether funds turned the same corner, absorbing $84.4 million in their strongest week since April. The reversal coincided with a roughly 3% weekly gain that carried BTC back above the $64,000 mark, hinting that institutional demand is stabilizing after a punishing quarter.

Bitcoin has defended $64,000 for the better part of a day, extending a gradual recovery off the July 1 flush that briefly printed a multi-year low beneath $58,000. On-chain and order-flow data show the asset rebounded to reclaim $60,000, pushed to $63,000, and touched $64,500 before a corporate treasury sale of more than 3,500 BTC triggered a slide to $61,200. Renewed geopolitical tension knocked it back toward $61,500, yet buyers reasserted control into the weekend. Market capitalization has climbed to roughly $1.29 trillion, though the coin's share of total market value slipped as some traders rotated into large-cap names.

A single-session snapshot underscored the demand shift: US spot Bitcoin ETFs took in $90.44 million on July 10, with BlackRock's iShares Bitcoin Trust accounting for $86.83 million of that total and VanEck's HODL adding $3.61 million. SoSoValue-style flow figures put the market's aggregate net assets near $77.42 billion, about 6.05% of Bitcoin's market cap, with cumulative inflows since the January 2024 launch around $51.28 billion. The heavy concentration in IBIT points to selective, cost-sensitive institutional buying rather than a broad-based bid, a nuance worth watching as the recovery matures.

Demand-side metrics remain fragile beneath the price bounce. A 30-day cumulative measure of spot and perpetual-futures demand collapsed deep into negative territory through June, bottoming near minus 650,000 BTC as leveraged longs unwound during the drop from roughly $95,000 to the $60,000–$65,000 zone. The latest readings show futures demand snapping back toward the zero line, but spot demand is still negative. Until spot buyers turn net positive and total demand crosses above zero, our reading of the flow data suggests the current rally rests on derivatives repositioning more than durable accumulation.

Policy and structural risks continue to shadow the tape. New Hampshire's Executive Council voted 3-2 on July 8 to reject a proposed $100 million Bitcoin-collateralized municipal bond, blocking a plan by the state's Business Finance Authority to fold BTC-backed securities into a public financing framework even after the instrument had secured a rating. Separately, prominent Wall Street analysis flagged the migration of tokenization and settlement onto private, permissioned bank blockchains as a larger long-term threat to public-chain liquidity than any single corporate treasury sale, warning that capital could quietly drain from open networks.

Across the broader board the session read as mixed. Ether traded near $1,798, up about 1.7% and pressing toward $1,800 resistance, while XRP held around $1.10 and BNB hovered near $580. Solana slipped below $80 and Hyperliquid's HYPE fell further from $70. Bitcoin dominance ticked higher, reinforcing a defensive, large-cap-led posture as spot volumes and derivatives turnover cooled. Pi Network's token kept carving fresh lows near $0.0966, and outside the majors BEAT led gainers with a 30% surge while several mid-caps shed close to 9%, underscoring how uneven risk appetite remains beneath the headline recovery.

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $63,906 support at 100/100, its strongest reading, anchored by a confluence of the Fibonacci 0.114 retracement, a high-volume node and the Bollinger Band midline — the exact shelf BTC is defending near spot of $64,257. Immediately overhead, the engine scores $64,928 resistance at 94/100 (R1, Donchian and Bollinger upper) and $66,695 at 94/100 (R3, Keltner upper, Fibonacci 0.382). Derivatives confirm cautious positioning: funding sits at 0.0034%, open interest holds near $12.6 billion, and the long/short account ratio of 1.41 leans 58.4% long. With a Fear & Greed reading of 26 (Fear) and RSI at 53.7, a clean break above $64,928 opens $66,695; losing $63,906 invalidates the bullish thesis toward $58,938.