Bitcoin Price Rebounds Above $64K as ETF Inflows Return

TLDR:

• Bitcoin price recovered toward $64,000 after U.S. spot Bitcoin ETFs recorded $221 million in net inflows, ending a 10-day period of outflows.
• Bitcoin and Ethereum gained as market pressure eased, but traders continue monitoring resistance levels and broader macroeconomic conditions.
• Bitcoin price analysis shows $63,600 as a key support area, while a move above $65,000 could improve short-term market momentum.
• Stablecoin supply contraction and upcoming U.S. CPI data remain important factors that could influence crypto market direction.

Bitcoin price moved back toward $64,000 after U.S. spot Bitcoin ETFs recorded fresh inflows, reducing pressure from a prolonged selling period. The recovery followed a 10-day stretch of ETF outflows that weighed on institutional demand.

U.S. spot Bitcoin ETFs registered $221 million in combined net inflows on July 9, marking a shift from recent withdrawals. The previous outflow period removed about $2.73 billion from the market, adding pressure on Bitcoin during its decline.

Bitcoin also benefited from improved sentiment across risk assets. The broader crypto market gained more than 2%, while lower liquidation levels reduced pressure from leveraged positions.

The rebound has not confirmed a new trend yet. Traders continue to watch whether ETF demand can remain consistent and whether Bitcoin can break key resistance levels.

Bitcoin Price Faces $65K Resistance as Traders Watch Data

The Bitcoin price is currently testing the $65,000 resistance area after holding above the $63,600 support level. Market participants are watching this zone because a sustained move higher could improve short-term momentum.

Technical indicators show a mixed outlook. Bitcoin remains above the 25-day moving average, while the MACD indicator is showing early signs of recovery. However, traders are still monitoring whether buyers can maintain strength above recent levels.

Analyst Ali Martinez noted that Bitcoin remains inside a descending channel on the four-hour chart. He identified $63,600 as an important support level and warned that a failure to hold it could expose BTC to lower levels near $59,700 and $56,550.

A move above $65,000 could open the way toward the $66,000 area. Some market watchers are also tracking the $67,400 resistance level, which represents the neckline of a double-bottom formation.

Bitcoin price models remain divided over the longer-term outlook. The stock-to-flow model suggests higher valuations based on scarcity, while cycle-based models indicate that additional volatility could appear before the next major market phase.

Stablecoin supply has also become a factor for traders. Since reaching a peak of about $321 billion, stablecoin supply has declined around 4.4%. A continued decline could reduce available liquidity across crypto markets.

Bitcoin ETF Flows and Macro Risks Shape Next Move

Institutional activity remains a key driver for Bitcoin price movements. Bitwise recently pointed to a changing market structure, where professional investors have become more active in Bitcoin compared with earlier cycles.

Despite renewed ETF inflows, investors continue watching inflation data and Federal Reserve policy. The upcoming U.S. CPI report on July 14 could influence expectations around interest rates and risk assets.

Geopolitical developments also remain important. Renewed U.S.-Iran tensions have affected oil prices and created uncertainty across financial markets. Bitcoin has traded alongside broader risk assets during recent periods of market stress.

Bitcoin price has also recovered despite Strategy selling part of its Bitcoin holdings. The company sold about $216 million worth of BTC to increase cash reserves for dividend obligations.

The next key levels remain focused on support near $63,600 and resistance between $65,000 and $67,400. A sustained move above resistance could improve the short-term structure, while a decline below support would expose Bitcoin to further downside risks.

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