Bitcoin holds $65,000 despite $465 million in ETF outflows

Bitcoin traded at $65,260 as of 06:00 UTC Monday, up 1.27% in the past 24 hours, even after U.S. spot ETFs recorded $465 million in net outflows that snapped a seven-session inflow streak.

"ETF flows turned negative on July 23 and July 24, with most of the selling pressure coming from BlackRock's IBIT, which had been the primary driver of capital into the market," said Linh Tran, market analyst at XS.com. "This looks more like profit-taking after the recovery from late-June lows than a structural shift in institutional demand."

The outflows erased nearly half of the $999.3 million accumulated during the prior seven-day inflow run from July 14 to July 22, according to Bloomberg data. Monthly ETF inflows are now approaching negative territory, and if July closes with net outflows, it would mark the third month of investor withdrawals from these vehicles this year.

Bitcoin's resilience above $65,000 comes as traders price a 38% probability of a Federal Reserve rate hike at the July 28-29 meeting, up sharply from 13% a week earlier, according to CME FedWatch data. The Fed is widely expected to hold rates between 3.50% and 3.75%, but any hawkish shift in language could pressure risk assets. Rising oil prices have revived inflation concerns, threatening to keep the central bank from easing policy.

The CLARITY Act, a long-awaited U.S. crypto market-structure bill, stalled in the Senate last week after Senate Majority Leader John Thune conceded it would not clear Congress before the August recess. Prediction markets have cut 2026 passage odds to roughly 35%, down sharply from earlier estimates.

Bitcoin faces resistance between $66,000 and $68,000, with a sustained break above that zone potentially opening a path toward $70,000 to $71,000, according to multiple analysts. On the downside, a breakdown below $64,200 could expose the $62,500 support level. Ethereum led gains among major tokens, rising 3.67% to $1,953, while Solana added 1.68%.

Social sentiment toward Bitcoin has declined steadily since March 2025, when the token reached an all-time high near $126,000, according to Santiment data. Capital rotation into AI and space-related technology sectors, including high-profile IPOs, has drawn resources away from crypto markets in recent months.

This article is for informational purposes only and does not constitute investment advice.