Bitcoin Holds Near $64,000 Amid Six Weeks of ETF Outflows

Bitcoin is hovering around $64,000, according to CoinDesk pricing data, as it searches for a catalyst strong enough to break its multi‑week range.

Spot bitcoin ETF selling has eased since earlier this month, but fresh institutional buying has not yet resumed.

U.S. spot bitcoin ETFs have recorded a sixth consecutive week of net outflows, with only a few isolated days of inflows. Although the outflow magnitude has narrowed, the lack of sustained inflows indicates that institutions remain defensive while reassessing the Federal Reserve’s interest‑rate trajectory.

A stronger U.S. dollar is also weighing on the market. Following the June Fed meeting, the central bank’s cautious stance dampened expectations for near‑term rate cuts, pushing the Dollar Index to the 100.6‑100.8 range and keeping Treasury yields elevated.

With liquidity still tight, investors are favoring assets that offer steadier yields over volatile ones like bitcoin.

Reduced geopolitical tension after the U.S.–Iran agreement has boosted risk appetite, providing short‑term support, but it has not been sufficient to offset the firm dollar and cautious capital flows.

Simon‑Peter Massabni, head of business development at XS.com, told CoinDesk that bitcoin is likely to stay within a $60,000‑$67,000 band for now. He described the market as “balanced between supportive and restrictive forces,” noting eased ETF selling and improving sentiment on one side, and an unsupportive Fed stance and uncertain institutional flows on the other.

A sustainable recovery in the second half of the year would require more time for accumulation, a return of ETF inflows, and stronger institutional demand. Until then, current price rebounds appear technical rather than the start of a new uptrend.

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