ETF Inflows Pressure Bitcoin as Market Enters Uncertain Week

Bitcoin (BTC) has been hovering around $64,500 after a 2% decline this week. However, buyers failed to confirm a breakout, and renewed volatility in ETF inflows continues to dominate the market. This has left sentiment fragile and uncertain heading into next week.

The past week saw US-listed spot Bitcoin ETFs experience a sharp swing in flows. After seven consecutive sessions of net inflows, there were over $465 million in outflows on July 23 and July 24, according to Bloomberg. Data from Investing.com showed that the daily ETF buying decelerated significantly from $227 million to $68.99 million by midweek.

The ongoing pressure also came from higher US Treasury yields and macro uncertainty. Additionally, Binance Futures launched perpetual futures tied to the ProShares Bitcoin ETF (BITO) on July 27. Corporate treasury holders, such as MicroStrategy, maintained or modestly reduced their BTC reserves in late July, favoring balance sheet flexibility.

Looking ahead, the price is forecast to move between $62,577 and $66,356 next week, with a 70% probability of continued downside within this range. A bullish break above $66,313 would challenge resistance and open the door to further upside, while failure to hold above $64,446 puts downside momentum in play.