Bitcoin · Federal Reserve (FED) · Ethereum · The Block
Bitcoin’s early July bounce rides thin summer liquidity as half of supply still sits underwater: analysts
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Bitcoin (BTC) traded around $63,500 on Tuesday, holding most of the gains from a six-session rally that lifted it off the lows of a brutal June, 's prices page.
Key facts
- The persistent bitcoin ETF outflow trend broke on July 2 with a $221.7 million single-day inflow that ended a 10-day, $2.73 billion outflow streak, the desk said
- Spot bitcoin ETFs recorded a net inflow of $266 million on July 6, led by $209 million into IBIT, according to SoSoValue, which tracks U.S.-listed funds
- Bitcoin closed the month down 20.5%, its worst June since 2022 and second-worst since 2013, after falling to $57,803, according to the firm
- Bitcoin had also drifted back toward its 200-week moving average, sitting about 4.3% below it as of June 5, K33 said
Summary
The rebound has split analysts between a near-term recovery still short of confirmation and a longer-term structural signal pointing to a bottom. Wintermute read the week's move as a textbook relief rally driven by easing macro conditions, a Federal Reserve leaning slightly more dovish, de-escalation in the Middle East, and promising institutional headlines around Ethereum, all landing on an asset class bombed out through the first half of 2026. The OTC desk and market maker said that mix was enough to explain the bounce without a larger story behind it. Indeed, crypto led the risk-on move by a wide margin.