Bitcoin ETF · Bitcoin · CryptoSlate
Bitcoin price rebounds to $63K as leverage returns creating short term volatility risk
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Bitcoin's rebound has cleared the first test: price recovered.
Key facts
- Farside Investors showed US spot Bitcoin ETFs moving from $296 million of total outflows on July 1 to $223 million of inflows on July 2 and $265 million on July 6
- BTC is trading near $63,195 on July 7, up 6.6% over the past seven days, according to CryptoSlate's Bitcoin market data
- CoinGlass showed roughly $46.7 billion in Bitcoin open interest on July 7, with 24-hour futures volume near $81.2 billion compared with about $5 billion of spot volume
- Buyers also need to defend the $61,000 to $62,000 area if Bitcoin retraces again
Summary
01 Bitcoin has recovered to about $63,195, up 6.6% in a week after last week's selloff. 02 US spot Bitcoin ETFs flipped back to inflows, but the rebound still needs proof of real cash demand. 03 Spot volume remains subdued versus futures, and $61,000-$62,000 support must hold if the move is to continue. BTC is trading near $63,195 on July 7, up 6.6% over the past seven days, according to CryptoSlate's Bitcoin market data. The macro backdrop helps.