Bitcoin has stabilized near the $63,000 area after recovering from last week's lows, supported by the first meaningful return of institutional demand in several sessions. U.S. spot Bitcoin ETFs recorded roughly $220 million in net inflows, ending a prolonged streak of heavy withdrawals that had weighed on sentiment throughout late June. While one positive session does not fully reverse the recent trend, it suggests long-term investors are becoming more willing to add exposure after the correction.
Softer U.S. data supports risk assets
The broader macro backdrop has also become more constructive for cryptocurrencies. Softer U.S. economic data has eased pressure on Treasury yields and reinforced expectations that the Federal Reserve could adopt a less restrictive policy path later this year. Investors are now awaiting the release of the FOMC meeting minutes for additional guidance on the interest rate outlook, with monetary policy expectations remaining the key driver of risk appetite across digital assets.
Technical picture points to a constructive recovery
The hourly chart shows Bitcoin maintaining its recovery after rebounding from the sub-$60,000 area. Price remains above its short and medium-term moving averages, while the long-term moving average continues to trend higher, indicating that the broader recovery structure remains intact. At the same time, the latest rejection from the $64,000 region highlights that sellers are still active near resistance, making a decisive breakout necessary to confirm stronger bullish momentum.
Institutional flows remain the key catalyst
Attention remains focused on ETF flows and upcoming U.S. macroeconomic releases. Continued institutional inflows would strengthen confidence that the recent correction has largely run its course and could provide support for another attempt to challenge recent highs. Conversely, renewed ETF outflows or a more hawkish policy signal from the Federal Reserve could revive volatility and trigger another test of nearby support levels.
As stated in the article Bitcoin stabilizes above key support as ETF inflows improve sentiment, it's too early to talk about a reversal of the downward trend.
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