Bitcoin ETF

Bitcoin

Momentum

Spot

<p><a href="https://en.coin-turk.com/bitcoin-price-could-drop-to-22000-in-september-says-crypto-expert/" rel="noopener noreferrer nofollow">Bitcoin</a> traded around $63,173 on the first business day of the week after a volatile session. The leading cryptocurrency fluctuated between $62,468 and $63,874 throughout the day, with the $63,500 zone drawing particular attention for its short-term significance. Market participants are now watching closely to see if this support will hold and whether the price can regain momentum towards $65,700.</p>
<h2 id="etf-inflows-bolster-short-term-outlook">ETF Inflows Bolster Short-Term Outlook</h2>
<p>Spot Bitcoin ETFs listed in the US recorded a net daily inflow of $221.7 million, snapping a 10-day streak of outflows and marking the strongest daily inflow seen in nearly two months. With June’s weak performance pressuring institutional sentiment, this shift stood out as a notable change for the market and suggested renewed investor interest.</p>
<p>Glossary: A spot Bitcoin ETF is an investment fund that tracks the actual price of Bitcoin and is traded on traditional stock exchanges. These products allow institutional and individual investors to gain exposure to Bitcoin prices without having to hold the underlying cryptocurrency directly.</p>
<p>Bitcoin’s movement back above the $63,500 mark coincided with these new ETF inflows. The analyst known as That Martini Guy remarked that an initial pullback from this region should be seen as typical; in markets, previous resistances are rarely overcome on the first attempt.</p>
<blockquote>
 <p>That Martini Guy emphasized that the critical development was Bitcoin reclaiming $63,500 as a support level after several weeks, and maintained that as long as this support holds, a continued attempt at an upward move remains possible.</p>
</blockquote>
<p>The short-term technical picture remains closely tied to whether buyers can defend this region. Consistent price action above $63,500 could put $65,700 back in focus, while a loss of support might trigger a retest of the $61,000 zone.</p>
<h2 id="short-covering-fuels-upward-momentum">Short Covering Fuels Upward Momentum</h2>
<p>Not just spot market demand, but derivatives activity also played a role in Bitcoin’s climb. As the price pushed above $62,000, some investors holding short positions were forced to cover, amplifying the speed of the intraday rebound through mandatory purchases.</p>
<p>Nevertheless, the overall picture remains fragile. While Bitcoin has reclaimed a key support area, the strong resistance that turned away the last rally has yet to be broken. A lasting recovery will require stability in trading volumes and sustained buying activity.</p>
<blockquote>
 <p>Holding above $63,500 reinforces the short-term structure. However, unless the resistance near $65,700 is convincingly surpassed, it is too early to call the move a firm turnaround.</p>
</blockquote>
<h2 id="us-data-eases-rate-hike-expectations">US Data Eases Rate Hike Expectations</h2>
<p>A further factor supporting Bitcoin came from the latest US economic data. Non-farm payrolls in June rose by 57,000, well below the 110,000 forecast. The prior month’s figures were revised downward, and the unemployment rate dipped to 4.2% amid a decline in labor force participation.</p>
<p>This set of data eased concerns that the Federal Reserve would raise interest rates in the near term. Yields on US bonds fell and the dollar weakened, providing a backdrop that encouraged appetite for risk assets. Bitcoin, as a non-yielding asset, benefited from this environment.</p>
<h2 id="focus-shifts-to-fed-minutes-and-us-reports">Focus Shifts to Fed Minutes and US Reports</h2>
<p>Looking ahead, forthcoming data releases could also influence market pricing. Investors will be watching for the Federal Reserve’s June meeting minutes on Wednesday. Other key data points include the services sector PMI, the ADP employment report, and weekly jobless claims, all of which could shape interest rate expectations.</p>
<p>Currently, the market is balancing two opposing dynamics. The renewed ETF inflows and Bitcoin’s recovery of the $63,500 support provide fuel for potential upside, while June’s heavy outflows, limited liquidity, and increased regulatory pressure in Europe encourage ongoing caution. Maintaining levels above $63,500 puts $65,700 within reach, but a downward break puts the $61,000 area back in play.</p>
<p>The post <a href="https://en.coin-turk.com/spot-bitcoin-etf-inflows-in-the-us-hit-221-7-million-after-10-day-outflow-streak-supporting-63500-level/" rel="noopener noreferrer nofollow">Spot Bitcoin ETF inflows in the US hit $221.7 million after 10-day outflow streak, supporting $63,500 level</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Spot Bitcoin ETF inflows in the US hit $221.7 million after 10-day outflow streak, supporting $63,500 level

Table of Contents

COINTURK NEWS

Other articles published on Jul 6, 2026

Join our free newsletter for daily crypto updates!