Share
Bitcoin (BTC) traded at $63,834.53 at the time of writing, holding near the $64,000 level after US spot Bitcoin exchange-traded funds (ETFs) recorded a second consecutive week of net inflows. The renewed ETF demand has helped Bitcoin hold above key support after weeks of institutional outflows.
Even so, the latest inflows remain small compared with the more than $8 billion withdrawn during the previous eight-week outflow streak. That suggests institutional demand is improving, though the recovery remains too small to confirm a sustained return of institutional capital.
According to SoSoValue, US spot Bitcoin ETFs recorded $75.67 million in net inflows during the week ending July 17, following $197.40 million the previous week. That brought total inflows over the past two weeks to $273.07 million, marking a break from the roughly $8.1 billion withdrawn during the preceding eight-week outflow streak.
The positive weekly result came despite significant day-to-day volatility. Funds absorbed $181.08 million on July 14, followed by $107.80 million, $79.15 million, and $132.30 million over the next three sessions, offsetting a sharp $424.66-million outflow at the start of the week.
BlackRock’s iShares Bitcoin Trust (IBIT) led weekly inflows with $204 million, while Grayscale Bitcoin Mini Trust added nearly $70 million. Buying remained concentrated in a handful of issuers, however, as Fidelity’s FBTC recorded $181 million in net outflows, suggesting institutional buying has improved but has not yet broadened across the ETF market.
10x Research has described ETF flows as one of Bitcoin’s most closely watched sentiment indicators because they track actual institutional capital moving into and out of regulated investment products.
Bitcoin ETF Inflows Are Back — Is Bullish Sentiment Next?
Bitcoin ETFs bled $4.7B in June 2026, the largest monthly outflow since these funds launched, right as Bitcoin hit its cycle low of $58,559. Flows have since turned slightly positive in July as price recovered to $63,899.… pic.twitter.com/5N9tVHY1Cv
— 10x Research (@10xResearch) July 20, 2026
The uneven distribution of recent ETF flows also points to selective institutional demand. Most of last week’s inflows were concentrated in BlackRock’s IBIT, while other issuers continued to report muted demand or net outflows, suggesting investors have yet to return broadly across the ETF market.
Bitcoin has held above key support even as broader financial markets reacted to rising geopolitical tensions and higher energy prices. Brent crude briefly climbed above $91 per barrel after the conflict between the United States and Iran intensified, while weakness across major technology stocks added pressure to risk assets.
At the same time, several onchain indicators point to relatively subdued selling activity. According to Bitrue Research Institute, long-term holder supply reached 16.75 million BTC, the highest level of the current market cycle, while the Miners’ Position Index remained below historical averages, indicating miners have not increased distribution despite recent macro uncertainty.
Bitcoin is surviving the Iran war, the AI crash, and a 50% drawdown.
Holding $65,000 like nothing happened.
Long-term holders absorbed 371,000 BTC in thirty days. An all-time record 16.34 million coins are now locked away.
The sellers are gone. What's left is the spring. pic.twitter.com/ESqhX9Wvdk
— Joe Consorti (@JoeConsorti) July 19, 2026
Bitcoin continues trading inside a key technical range between support near $64,000 and resistance around $65,000-$65,700.
Bitcoin remains above several short-term moving averages (MAs), although futures markets still account for a large share of recent trading activity. A recovery supported by consistent spot demand and continued ETF inflows would provide a stronger foundation than one driven mainly by leveraged positions.
One thing stands out on this chart.
Bitcoin has had multiple chances to lose $64,000.
It hasn't.
That's becoming more important than the fact we haven't broken $65,700 yet.
Hold $64,000, and I'd still favour another attempt higher.
Lose it, and $63,000 becomes the level I'd… pic.twitter.com/i58vioknwZ
— That Martini Guy ₿ (@MartiniGuyYT) July 20, 2026
Bitcoin has continued holding above the $64,000 area despite June’s heavy ETF outflows. A broader recovery will likely depend on institutional inflows continuing over the coming weeks rather than fading after the recent rebound.
Share
preferred on
