Two-Week Bitcoin ETF Inflow Streak Continues, Yet Sustained Rally Remains Elusive
Spot Bitcoin ETFs in the United States have maintained positive flows for a second consecutive week, attracting $75.7 million in net inflows, though experts warn current demand levels fall short of supporting a durable bullish trend.
Spot Bitcoin exchange-traded funds (ETFs) listed in the United States are witnessing a resurgence in investor interest, though the current inflow pattern has not yet generated sufficient force to drive a more robust market recovery.
For the week concluding July 17, Bitcoin ETFs attracted $75.7 million in net inflows, representing the second straight week of positive capital flows, based on data compiled by SoSoValue.
These recent inflows came on the heels of $197.4 million in net inflows registered during the prior week, pushing July's cumulative ETF inflows to $200.2 million. During June, US spot Bitcoin ETFs experienced $4.5 billion in net outflows, leaving total 2026 net flows in negative territory at $5.2 billion.
Market analysts indicated that while the resumption of inflows points to diminishing selling pressure, the present rate of capital acquisition remains inadequate to validate a more comprehensive bullish trajectory.
Bitcoin must convincingly surpass $65K to establish new uptrend
The fortnight-long ETF inflow pattern emerged as Bitcoin climbed back toward $64,000 following its decline from elevated levels in June, though the price action has not demonstrated enough conviction to validate a comprehensive trend reversal, according to Simon-Peter Massabni, head of business development at XS.com.
For Bitcoin to confirm a fresh uptrend, the cryptocurrency must "decisively break above the $65,000–$65,500 range," Massabni explained to Cointelegraph, noting that the present recovery "still lacks real strength."
"Four consecutive sessions of inflows should be interpreted as a sign that selling pressure is easing, rather than clear evidence that institutional investors have returned on a broad scale," Massabni said, referring to the daily ETF flow data from last week.
Citigroup slashes 12-month Bitcoin ETF inflow projection from $10 billion to zero
Massabni further drew attention to Citigroup's latest adjustment to its Bitcoin ETF forecast, which underscores apprehensions regarding the robustness of institutional demand.
On July 1, Citi revised its 12-month ETF inflow forecast downward from $10 billion to zero in response to flows that fell below expectations and recent capital withdrawals. The financial institution simultaneously reduced its 12-month Bitcoin price target from $112,000 to $82,000.
"The market does not lack reasons to start buying Bitcoin," Massabni said, adding that "what is still missing is a sufficiently strong catalyst — most likely a flow of capital large and persistent enough to turn the current rebound into a genuine trend."
Eric Balchunas, an ETF analyst at Bloomberg, drew parallels between the Bitcoin ETFs' performance trajectory and that of gold ETFs, observing that both financial products have undergone swift adoption phases followed by prolonged periods of subdued performance.
In an X post on Friday, Balchunas said Bitcoin ETFs may follow a similar pattern of "spectacular gains, painful drawdowns and recoveries," with each cycle potentially setting higher highs over time.