Bitcoin ETFs Achieve First Three-Week Inflow Streak Since May, But Recent Figures Are Jarring

US-based spot Bitcoin ETFs managed to capture a three-week consecutive inflow streak for the first time since May, despite sharp outflows toward the end of the week.

Spot Bitcoin ETFs, one of the most significant indicators of institutional interest in cryptocurrency markets, ended the week ending July 24 with a net inflow of $33.79 million. Although this figure remains lower compared to previous weeks, it shows that the negative trend persisting since May has been broken and investors have shifted back to the buying side. However, the selling pressure that emerged from mid-week onwards proves that the market recovery is still on shaky ground.

According to SoSoValue data, although the weekly outlook remained positive, net outflows totaling approximately $465 million were recorded on July 23 and 24. These outflows, at $225.2 million on July 23 and $240.1 million on July 24, caused the total weekly inflow amount to fall significantly behind the $197 million and $75.67 million seen in the previous two weeks. Recent movements in the data tables reveal that institutional demand is not yet as strong as it typically is in bull markets.

A Period of Cautious Optimism in Institutional Demand

Experts at crypto analysis firm BRN state that following the heavy outflows in May and June, a “repair phase” occurred in July. Analysts emphasize that institutional demand has returned, but investors are still acting very cautiously. This situation raises question marks about the continuity of liquidity flow in the market while also bringing volatility to the price of Bitcoin.

Bitcoin (BTC), which climbed above $66,500 during the week to reach its July peak, retreated below $64,000 toward the end of the week. This decline was influenced by weakness in the tech-heavy Nasdaq 100 index and profit-taking in chipmaker stocks within the AI sector. These movements in macroeconomic data and equity markets increased pressure on crypto assets, causing ETF inflows to lose momentum.