Bitcoin holds $61,300-$64,700 range as $197M ETF inflows offset Strategy sale

Bitcoin refused to break below $61,300 despite the largest-ever corporate bitcoin sale, escalating geopolitical risk and internal Fed divisions.

Bitcoin held a $61,300-$64,700 range through the past week, refusing to break despite Strategy's record $216 million sale, Middle East tensions and Fed divisions.

"Price action that refuses to break down under this much selling pressure typically builds a spring for the next leg higher," Nina Volkov, crypto markets analyst at Edgen, said. "The $197 million ETF inflow reversal is the most important data point — it shows institutional demand is absorbing supply."

U.S. spot Bitcoin ETFs recorded $197.4 million in net inflows for the week ended July 12, snapping a prior losing streak, with BlackRock's IBIT leading the charge. The flows came as Strategy disclosed it sold 3,588 bitcoin for $216 million on July 5 — the largest single disposal in the corporate holder's history — while separately raising $466.7 million through an at-the-market equity sale that boosted its dollar reserve to $3 billion. The company now holds 843,775 BTC, acquired at an average of $75,476 per coin, leaving it with roughly $10.7 billion in paper losses at current prices near $63,000.

The convergence of multiple bearish catalysts with Bitcoin refusing to break lower suggests a buildup of bullish pressure, though a decisive move above $64,700 or below $61,300 will likely determine the next major directional swing. Strategy's pivot from buyer to cash-builder — driven by fixed dividend and interest obligations on its new STRC preferred instrument — adds a structural overhang that could constrain upside if the company is forced to sell more coins to service debt.

ETF inflows flip positive as institutional demand absorbs supply

The $197.4 million inflow week marks a reversal after a period of sustained outflows, signaling that institutional buyers are stepping in at current levels. IBIT led all products in net new capital, though the broader ETF complex also saw participation. The inflows helped offset selling pressure from Strategy's record disposal and broader macro uncertainty tied to escalating conflict in the Middle East and a divided Federal Reserve over the path of interest rates.

Bitcoin traded flat near $62,500 as of 14:00 UTC on Monday, with open interest across major derivatives exchanges holding steady and funding rates remaining neutral, according to Coinglass data. The $61,300 level has emerged as the key support floor, while resistance sits at $64,700 — a breakout above which could trigger a run toward $68,000, traders said.

This article is for informational purposes only and does not constitute investment advice.