After two months of persistent outflows, U.S. spot Bitcoin ETFs finally recorded a net inflow day on July 10, totaling $90.44 million, according to SoSoValue. This marks a potential turning point for institutional demand, as Galaxy Research data show that the 30-day rolling net flows have reversed from deeply negative territory. The shift comes as Bitcoin recovered from a July 8 low of $61,453 to trade near $64,100.
ETF Flow Reversal and Market Context
Galaxy Research highlighted that the cumulative net flow indicator for U.S. spot Bitcoin ETFs has climbed higher after plunging into negative territory earlier this year. The positive inflow on July 10 was the first in the recent cycle, suggesting that institutional selling pressure may be easing. Meanwhile, U.S. spot Ethereum ETFs also saw net inflows of $18.43 million on the same day, indicating broader interest in digital asset exposure.
Price Levels and Options Activity
Bitcoin's next resistance sits at $65,136, which coincides with the 50-day moving average. A break above that could open the path to the $70,000 psychological level, which represents the upper band of the current range. Analysts note that Bitcoin's time in the $60,000–$70,000 band is now the third longest in any $10,000 price range, behind only the $10,000–$20,000 and $20,000–$30,000 bands. In the options market on Deribit, put skews have weakened as the price rebound eased downside fears, with calls at $62,000, $65,000, and $67,000 among the most actively traded.
Mixed Signals Remain
Despite the positive ETF inflow, total net flows remain in negative territory over a longer timeframe. Whale accumulation continues, but a broad market bottom has not been confirmed. Traders are watching whether Bitcoin can sustain its recovery above key moving averages to build momentum toward the $70,000 level.