Overview
- Bitcoin rose back into the low $63,000 range after volatile trade, with short‑term support forming near $63,000–$63,500 and resistance seen around $65,700.
- Spot Bitcoin ETFs returned to net inflows, recording about $221.7–$222 million on July 2, which ended a multi‑day outflow streak and helped stabilize institutional sentiment.
- June nonfarm payrolls came in weaker than expected, which reduced immediate odds of another Federal Reserve rate hike and eased pressure on risk assets including Bitcoin.
- The recovery is fragile because June’s heavy ETF outflows, elevated exchange inflows and forced liquidations, plus selling by major corporate holder Strategy, left liquidity thin and volatility prone to spikes.
- Longer‑term institutional accumulation continues outside ETFs—Coinbase says about 40 countries are at various stages of stockpiling Bitcoin—so prices will hinge on whether ETF demand holds and upcoming Fed minutes and U.S. CPI sustain calmer rate expectations.