Bitcoin ETF Records $223.5M Inflow After 12-Day Outflow Streak

US Bitcoin spot ETFs recorded $223.5 million net inflow on July 2 (local time), the first in 12 trading days since June 16 per Farside Investors. Bitcoin recovered to $63,000, up 5% from a week prior, as low-price buying interest reversed outflow trends. Ethereum spot ETFs turned to net inflow on July 1 (local time), the first in 11 trading days since June 16, with Ethereum recovering to $1,700, up 12% weekly.

Bitcoin and Ethereum ETFs Record Net Inflows After Extended Outflow Period

US Bitcoin spot ETFs recorded a net inflow of $223.5 million on July 2 (local time), ending a 12-trading-day outflow streak that began on June 16, according to Farside Investors. Ethereum spot ETFs turned to net inflow on July 1 (local time), marking the first net inflow in 11 trading days since June 16. Bitcoin's price reached $63,000 on the same day, representing a 5% increase from a week prior, while Ethereum recovered to $1,700, up 12% over the same period. The reversal in ETF flows occurred as both cryptocurrencies rebounded from yearly lows.

Futures Market Long Positions Increase for Eight Consecutive Days

The funding rate in the futures market remained positive for eight consecutive days, indicating an increase in long positions. The funding rate, which represents payments from investors betting on price increases to those betting on declines, has been rising steadily. The sustained positive funding rate reflects a growing proportion of long positions in the futures market.

Crypto Fear & Greed Index Remains in Extreme Fear Zone at 23

The Crypto Fear & Greed Index from Alternative.me stood at 23, remaining in the "extreme fear" zone despite rising 5 points from the previous week. The index, which ranges from 1 to 100 to measure cryptocurrency investment demand, indicates that investor sentiment remains subdued. Higher values closer to 100 represent stronger demand.

Market Outlook Focuses on $61,000 Support Level

Cointelegraph noted that the key factor for continued recovery is maintaining the $61,000 support level, where futures market positions are concentrated. The outlet stated that "it remains to be seen whether the ETF fund inflow is a one-time event or the start of a new trend," adding that "volatility could expand given the extreme fear sentiment in the market and high leverage ratios."

FAQ

What happened to Bitcoin ETF fund flows on July 2 (local time)? US Bitcoin spot ETFs recorded a net inflow of $223.5 million on July 2 (local time), marking the first net inflow in 12 trading days since June 16, according to Farside Investors.

How much did Bitcoin and Ethereum prices recover? Bitcoin recovered to $63,000, up 5% from a week prior, while Ethereum recovered to $1,700, up 12% from the previous week.