<\/p>\n
US-listed spot Bitcoin exchange-traded funds recorded a second consecutive week of net inflows after nearly two months of capital flight, raising hopes that cryptocurrencies may be finding a floor.<\/p>\n
The 13 spot Bitcoin ETFs attracted $75.7 million last week, adding to the $197.4 million they secured the previous week. That\u2019s despite investors draining $424.7 million from the funds last Monday after renewed military conflict between the US and Iran.<\/p>\n
The reversal, combined with flows into ETFs tied to Ether, the second-largest cryptocurrency, could signal positive sentiment returning to the market, according to Richard Galvin, executive chairman at crypto investment firm DACM.<\/p>\n
\u201cI think it is a sign of bottoming,\u201d Galvin said. \u201cGiven their size and breadth, the ETFs have become a good read on general sentiment to Bitcoin and the sector. So an about-face after eight straight weeks, now confirmed across a fortnight, is positive.\u201d<\/p>\n
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Bitcoin has moved back above its 200-week moving average, which stands at around $63,300 and is seen as a critical demarcation line between a prolonged bearish or bullish market. For weeks the token has remained largely constrained in a $60 000 to $65 000 range amid broader macro uncertainty.<\/p>\n
Bitcoin showed resilience in Asia today even after fresh US strikes on Iran, briefly rising above $65 000 in early trading. Yet the war carries inflation risks.<\/p>\n
The prospect that the US Federal Reserve may raise interest rates could be holding off a full return of institutional capital, according to Damien Loh, chief investment officer at Ericsenz Capital. Passage of the long-awaited Clarity Act, a US market-structure bill, before Congress\u2019s August recess could provide a catalyst for Bitcoin to move higher, he added.<\/p>\n
Bitcoin\u2019s recent price action indicates \u201cstrong support, despite a downturn in risk assets and with hostilities renewed in the Middle East,\u201d Loh said. \u201cThe US-Iran conflict matters in so much as it increases interest rates, which affect all risk assets.\u201d<\/p>\n
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Bitcoin is down roughly 10% since the start of June, when Strategy Inc. disclosed that it had sold a small portion of its holdings for the first time since 2022. Founder Michael Saylor had positioned the company as a Bitcoin accumulator, vowing to continuously buy the cryptocurrency with proceeds from equity sales and to never sell it.<\/p>\n
Strategy sold $263.5 million of common stock in the week through July 19 but made no Bitcoin purchases, according to a Monday filing. The company instead increased its dollar reserve to $3.23 billion, reinforcing a recent shift toward preserving liquidity rather than automatically directing fresh capital into the token.<\/p>\n
More recently, with Bitcoin sitting around half its October high of $126,000, it became increasingly difficult for Strategy to meet its dividend obligations. Saylor signaled a greater willingness to sell the token when necessary, and the company disclosed on July 6 that it sold another $216 million of Bitcoin, significantly higher than the previous $2.5 million sale.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Bitcoin #ETFs #draw #cash #token #remains #record<\/p>\n","protected":false},"excerpt":{"rendered":"
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