Bitcoin ETF inflows rebound as whales accumulate

• US spot Bitcoin ETFs recorded US$221.7 million in net inflows, ending a 10-day outflow streak as whale accumulation continued.
• On-chain data showed large Bitcoin purchases from 30 June, while ETF investors had withdrawn about US$2.7 billion before the rebound.
• Blockchain data suggests limited supply above current prices and stronger support below, which may influence Bitcoin's next move.

Bitcoin (CRYPTO:BTC) spot exchange-traded funds attracted US$221.7 million in net inflows on 2 July, ending a 10-session outflow streak as on-chain data indicated large investors had been accumulating Bitcoin since 30 June.

The inflows followed roughly US$2.7 billion in ETF outflows, while CryptoQuant data showed whale-sized spot orders appearing daily through 5 July, including one transaction of about 857 BTC executed near US$63,600.

“One green session does not erase that damage,” the report stated.

According to the report, Fidelity's FBTC attracted US$165.96 million in net inflows and ARKB added US$91.84 million, while BlackRock's IBIT recorded net outflows of US$40.43 million, and the improvement followed weaker-than-expected June payroll data showing 57,000 new jobs.

The report said the return of ETF inflows alongside continued whale accumulation may indicate improving institutional sentiment, although year-to-date net ETF flows remain negative by about US$5.4 billion.

Glassnode's UTXO Realised Price Distribution data showed only about 0.72% of Bitcoin supply last moved near US$64,373, suggesting relatively limited potential selling pressure above current prices.

The same data showed around 2.09% of Bitcoin supply last moved near US$61,849 and 2.13% near US$60,587, indicating stronger potential support levels if prices weaken.

At the time of reporting, Bitcoin price was $63,016.78.