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Bitcoin (BTC) traded at $62,757.28 at the time of writing, holding near the $63,000 level even as renewed conflict between the United States and Iran pushed oil prices higher and weighed on broader risk sentiment.
The market’s ability to remain above key support came as US spot Bitcoin exchange-traded funds (ETFs) recorded $197 million in weekly net inflows between July 6 and July 10, according to SoSoValue. The inflows ended eight consecutive weeks of net outflows, reversing a trend that had weighed on institutional demand since May.
The return of positive ETF flows marked one of the week’s most significant institutional developments for Bitcoin. After eight consecutive weeks of net outflows, US spot Bitcoin ETFs attracted $197 million in net inflows during the week ending July 10, according to SoSoValue.
Spot Bitcoin ETFs Record $197 Million in Weekly Net Inflows, Ending Eight-Week Outflow Streak
From July 6 to 10 (ET), U.S. spot Bitcoin ETFs recorded $197 million in net inflows, ending an eight-week outflow streak. Spot Ethereum ETFs saw $84.42 million in net inflows, also… pic.twitter.com/OyW00HA76o
— Wu Blockchain (@WuBlockchain) July 13, 2026
The turnaround was driven by strong buying early in the week. Spot Bitcoin ETFs recorded $265.69 million in net inflows on July 6, followed by $221.72 million on July 2 and $21.44 million on July 7. Those gains offset outflows of $294.62 million on July 1, $222.64 million on June 30, $231.10 million on June 29, and $95.30 million on July 9, allowing the market to finish the week in positive territory.
Because spot ETFs purchase real Bitcoin to back new shares, continued inflows can gradually reduce available market supply.
The improvement also extended beyond Bitcoin. US spot Ether (ETH) ETFs recorded $84.42 million in weekly net inflows, while spot Solana (SOL) ETFs attracted $930,400, indicating that institutional buying wasn’t limited to Bitcoin alone.
Bitcoin spent much of the session trading near $63,000 even as financial markets reacted to another round of US strikes on Iran and renewed uncertainty surrounding shipping through the Strait of Hormuz.
Brent crude climbed above $79 per barrel after concerns over potential supply disruptions intensified. Higher energy prices revived inflation concerns and increased expectations that the US Federal Reserve could keep interest rates elevated for longer, a backdrop that typically pressures risk assets.
Digital Asset Capital Management chairman Richard Galvin said weaker US equity futures and rising geopolitical tensions weighed on cryptocurrencies, while IG Australia analyst Tony Sycamore said this week’s US inflation report could become the next major catalyst for Bitcoin.
Unlike previous geopolitical shocks that triggered sharper cryptocurrency declines, Bitcoin remained within a relatively narrow trading range. The relatively muted reaction came as improving institutional demand helped offset part of the macroeconomic pressure.
Onchain data showed long-term Bitcoin holders returning to accumulation after nearly two weeks of net selling.
According to Glassnode data, long-term Bitcoin holders added a net 5,912 BTC on July 11 and July 12 after 12 consecutive days of distribution. The shift represents the first return to net accumulation since late February 2026.
Historical comparisons deserve caution, yet the previous transition from distribution to accumulation in late February came before Bitcoin rallied roughly 25% over the following months. This time, the buying coincides with the first positive ETF flow week in more than two months, giving traders another signal to monitor.
The accumulation trend remains only a few days old, so additional buying will be needed before it develops into a stronger onchain confirmation.
Bitcoin’s technical structure remains mixed despite improving ETF flows.
Bitcoin briefly lost the $63,000 level during the latest geopolitical selloff, leaving $61,000 as a key support level highlighted by market technician Martini Guy. A recovery above $64,000 would improve the short-term market structure and shift attention toward higher resistance zones.
Bitcoin just lost $63,000.
The sell-off comes as geopolitical tensions continue escalating between the US and Iran, pushing risk assets lower across the board.
From a technical perspective, $61,000 remains the first major support I'm watching.
If bulls can reclaim $64,000, the… pic.twitter.com/mhlWVrDHwE
— That Martini Guy ₿ (@MartiniGuyYT) July 13, 2026
Fidelity global macro director Jurrien Timmer recently said Bitcoin continues trading within an accumulation phase under the company’s long-term model. He also warned that another move toward $56,500 can’t be ruled out if selling pressure intensifies before a broader recovery begins.
According to Fidelity's model, Bitcoin is already in the accumulation zone. A final drop toward the $56,500 area can't be ruled out. pic.twitter.com/wYoIRIILYt
— CryptoJack (@cryptojack) July 12, 2026
That downside scenario provides an important counterbalance to the improving ETF picture. Institutional inflows have strengthened, and long-term holders have resumed buying, but inflation risks, Federal Reserve policy expectations, and geopolitical developments continue shaping short-term market sentiment.
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