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Bitcoin (BTC) traded near $63,900 on Thursday, holding close to $64,000 alongside a modest return of spot exchange-traded fund (ETF) demand and a hawkish US Federal Reserve decision. The price reaction remained muted, but the ETF flow breakdown told a more nuanced story than the headline figure. BlackRock’s iShares Bitcoin Trust absorbed nearly three times the industry’s net inflow, while rival funds collectively lost capital.
US spot Bitcoin ETFs recorded $32.11 million in net inflows on July 29, ending four consecutive withdrawal sessions, according to SoSoValue. BlackRock’s IBIT attracted $89.83 million, nearly 2.8 times the industry’s net total, while Fidelity’s FBTC posted the largest outflow at $43.08 million. The remaining funds lost another $14.64 million on a combined basis.
The fund-level breakdown suggests the day’s positive result was driven primarily by BlackRock rather than broad-based buying across ETF issuers. The $32.11-million inflow recovered about 6% of the roughly $526 million withdrawn over the previous four sessions. Total ETF net assets stood at $77.46 billion, representing 6.08% of Bitcoin’s market capitalization, while cumulative inflows since the products launched reached $51.36 billion.
Bitcoin ETFs Draw $32 Million as BlackRock Leads Inflows
U.S. spot Bitcoin ETFs recorded net inflows of USD 32.11 million on July 29, according to SoSoValue, with BlackRock’s IBIT attracting USD 89.83 million as outflows from other funds offset part of the gain. Among spot… pic.twitter.com/6xX6C8NNTk
— Wu Blockchain (@WuBlockchain) July 30, 2026
The Federal Reserve kept the federal funds rate at 3.50%-3.75% on July 29 in a 9-3 vote. Beth Hammack, Neel Kashkari, and Lorie Logan supported a quarter-point increase, while the official statement said inflation remained above the Fed’s 2% goal and cited energy-related supply shocks.
Bitcoin’s limited reaction suggests traders had largely prepared for a hold, yet the three dissents leave the rate outlook less supportive for leveraged risk. Higher policy rates raise financing costs and can reduce demand for positions built around cheap liquidity. ETF inflows provided some support for spot demand, but they were not large enough to offset the broader macro backdrop.
Futures open interest reached a two-month high while funding rates stayed positive, according to the CoinSwitch Markets Desk. Rising open interest near resistance can support a breakout when spot buying follows, but it also raises liquidation risk if prices reverse and leveraged long positions begin to unwind.
Bitcoin remained within a narrow technical range, with support forming around $63,000 and resistance near $64,600-$65,100. The latest session tested both sides of that zone without producing a confirmed breakout, leaving $62,000 as the next downside level if support fails and $66,700 as the next major upside barrier.
Crypto market commentator Alex Marzell said Bitcoin had broken below a rising-channel trendline, arguing that reclaiming the lower boundary could trigger a relief rally. Another rejection, he said, would put $50,000 back into focus. That downside target remains conditional while Bitcoin continues to hold above the $63,000 area.
Bitcoin has been here before.
The last time price lost this rising channel, it triggered a sharp selloff.
Today, we're seeing a very similar structure.
Reclaim the lower trendline, and this becomes a relief rally.
Lose it again, and $50K comes back into focus. pic.twitter.com/DMtLdcawCD
— Alex Marzell (@MarzellCrypto) July 30, 2026
The next technical test sits between $64,600 and $65,100, while a daily close below $63,000 would expose the lower end of Bitcoin’s recent trading range near $62,000.
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