Bitcoin traded near $65,000 on Monday as $465.26 million in outflows from U.S. spot Bitcoin ETFs tested key support. The withdrawals, concentrated in BlackRock’s IBIT, ended a seven‑day inflow streak. Despite the late‑week exits, the funds posted a third consecutive positive week with $33.79 million in net inflows for the period ending July 24. Bitcoin must clear $67,000 to target $70,000, while Federal Reserve rate hike risks and a lack of progress on the CLARITY Act threaten a retest of $58,000, according to analysts and traders cited in recent reports.
Bitcoin held near $65,000 on Monday after $465.26 million exited U.S. spot Bitcoin ETFs on July 23 and 24. According to SoSoValue data, funds lost $225.2 million on Thursday and $240.1 million on Friday, with BlackRock’s IBIT accounting for nearly $415 million of the two‑day total.
Despite the withdrawals, the spot ETFs attracted $33.79 million for the period ending July 24. This marked their third consecutive positive week, following $197 million and $75.67 million in the prior weeks.
As reported, the last‑minute withdrawals reduced demand but did not alter July’s recovery trajectory. Ivan Lim, senior derivatives trader at FalconX, attributed the reversal to two factors: no further developments on the CLARITY Act and rising expectations of interest rate increases.
Interest‑rate concerns intensified as oil‑driven inflation fears pushed Treasury yields higher. Reuters reported that traders doubled the implied chance of a Federal Reserve rate increase at its next meeting to about one in three.
Meanwhile, the United States and Iran extended a pause in retaliatory strikes, easing fears of deeper disruption to regional energy supplies. Bitcoin recovered alongside other risk assets following the development.
Bitcoin rebounded from its July low near $58,000, placing the $64,000–$65,000 range back in focus as immediate support. Monday’s advance tested resistance between $66,000 and $67,000.
Above $67,000 would give a chance to test the $68,000–$70,000 region, requiring higher volume and consistent ETF inflows. Otherwise, Bitcoin may consolidate between $64,000 and $67,000 until clearer monetary policy signals emerge.
If daily ETF outflows exceed $200 million and the Fed becomes more restrictive, downward momentum would make a retest of $64,000 inevitable, opening the July low at $58,000.
