Spot Bitcoin ETFs in the United States posted net inflows of $226.9 million on Monday, July 21. Data from the SoSoValue platform shows this was the fifth consecutive day the ETF products drew fresh capital, lifting cumulative inflows over the five-session span to $727.3 million. This five-day run marks the longest positive streak since the April 30 to May 5 stretch. The additional capital trimmed total net Bitcoin ETF outflows since the start of the year to under $5 billion.
The string of ETF inflows aligned with strengthening Bitcoin spot prices. The world’s largest crypto asset gained between 1.23% and 3.3% over the past 24 hours, trading in a range of $65,245 to $65,879. Over a seven-day window, Bitcoin gained 5.02%. The price rally was also linked to broader market conditions outside of crypto, as Bitcoin’s rebound was partly aided by a recovery in Asian tech shares. Semiconductor names such as Samsung, SK Hynix, and TSMC rebounded into the green after facing selloffs last week.
Technical Signals Flash Green, But Caveats Remain
From a technical standpoint, indicators favored buyer dominance. The MACD line stood at 464.37, crossing above the signal line at 93.55. Meanwhile, the RSI climbed to 60.07, positioning it above the neutral 50 threshold. This upward room was backed by on-chain data, with Alphractal’s MVRV Z-score metric showing Bitcoin remains far from overbought territory. Its current price level is still roughly 48% below the $126,000 cycle top set in 2025.
Analyst Simon-Peter Massabni offered a different take on the rally. He noted that five straight days of ETF inflows may simply indicate that selling pressure is easing, rather than guaranteeing a massive wave of institutional demand. According to Massabni, to confirm the upward momentum is valid, Bitcoin needs to break through and hold between $65,000 and $65,500. If this resistance level is cleared, traders will begin targeting the next resistance at $70,000.
Who Is Absorbing the Supply?
Beyond public ETF channels, the most crucial maneuver occurred before prices began climbing back up. While the market was weighed down by negative sentiment and ETFs logged successive outflows in the preceding period, large-wallet holders were accumulating. This cohort of major holders quietly absorbed roughly 270,000 BTC, a position valued at an estimated $16.7 billion.
This highlights an institutional acquisition pattern often seen in digital asset markets. When daily fear triggers selloffs, whales scoop up the offloaded supply. Now, with prices climbing back above $65,000, these well-capitalized holders already sit on lower-priced coins, awaiting a test of the $70,000 resistance. Reported by Cointelegraph.
Also read: How to Read Candlesticks for Beginners
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
