TLDR:
- Bitcoin ETF inflows reached $90.44 million on July 10, with BlackRock’s IBIT supplying nearly all the fresh capital entering U.S. spot funds.
- Spot Ethereum ETFs added $18.43 million during the same session, showing that regulated crypto demand extended beyond Bitcoin alone.
- Bitcoin traded above $64,000 and approached the key $65,000 resistance area as softer oil prices and a weaker dollar supported risk assets.
- Short-term holders remain underwater near higher cost bases, leaving the $71,000 to $77,500 region exposed to renewed selling pressure.
U.S. spot funds attracted fresh capital as Bitcoin returned above $64,000. Bitcoin ETF inflows reached $90.44 million on July 10, Eastern Time, according to SoSoValue data. Spot Ethereum products added another $18.43 million during the same session.
The move marks another positive flow day after June delivered roughly $4 billion in Bitcoin ETF withdrawals. Bitcoin traded near $64,149, while Ethereum changed hands around $1,798.
Both assets gained support from softer oil prices and a weaker U.S. dollar. Still, Bitcoin faces firm resistance near $65,000 as traders assess whether institutional demand can extend the rebound.
Bitcoin ETF Inflows Rise as BlackRock Controls the Session
BlackRock’s iShares Bitcoin Trust generated $86.83 million of the daily total. VanEck’s HODL fund added $3.61 million, bringing combined Bitcoin ETF inflows to $90.44 million. IBIT has now attracted about $60.29 billion since launch, while HODL’s cumulative inflows stand near $1.14 billion.
The U.S. spot Bitcoin ETF market holds about $77.42 billion in total net assets. That equals roughly 6.05% of Bitcoin’s market value. Cumulative net inflows across the products have reached approximately $51.28 billion since trading began in January 2024.
The latest reading follows a difficult June for regulated Bitcoin funds. Investors withdrew around $4 billion during the month, setting the weakest monthly result since the products launched. A 10-day outflow run also removed about $2.73 billion before positive flows returned in early July.
Bitcoin ETF inflows now show selective demand rather than a broad rush into every product. The July 10 total came almost entirely from IBIT, with VanEck supplying the balance. This concentration shows that large investors still favor liquid funds with deep trading activity and competitive fees.
Ethereum ETF inflows were smaller but moved in the same direction. The $18.43 million daily addition represented about 10,550 ETH at prevailing prices. BlackRock’s ETHA attracted $16.20 million, while Fidelity’s FETH added $2.23 million.
ETF Demand Returns While Bitcoin Tests the $65K Barrier
Bitcoin climbed above $64,000 and approached a three-week high as the dollar weakened. Lower crude prices also eased immediate inflation concerns, giving risk assets more room to recover. However, the rebound still needs stronger spot demand to support a sustained break above $65,000.
Short-term holder data presents another challenge. Buyers holding Bitcoin for one to six months remain about 15% underwater on average. The newest buyers hold a realized price near $61,600. The three-to-six-month group sits near $74,900.
That gap may create selling pressure during a stronger advance. Holders who bought near $70,000 could use a recovery to reduce losses. A break above $71,000 would improve the structure. The $73,200 to $77,500 area could attract heavier supply.
Bitcoin ETF inflows offer a stronger demand signal than leveraged futures activity. Yet negative apparent demand and a weak Coinbase premium still point to caution among U.S. spot buyers. Rising leverage could also expose the market to sharp liquidations if Bitcoin loses momentum below $64,000.
Analyst Axel Adler Jr. says short-term holder buying pressure has recently exceeded selling pressure. Buying scores ranged from 37% to 46% during June and July, while selling pressure stayed near 16%. Those conditions support a possible bounce, although older holders remain positioned to sell into higher prices.
