Overview
- U.S. spot Bitcoin ETFs recorded roughly $197 million of net inflows for the week ended July 10, ending an eight‑week run of redemptions but leaving total demand fragile.
- BlackRock’s iShares Bitcoin Trust supplied the bulk of that inflow, contributing about $292 million for the week and highlighting how recovery depends on a small number of large funds.
- Renewed U.S.–Iran military exchanges and disputed claims over the Strait of Hormuz sent Brent and WTI up more than 3–4%, prompting investors to move into safer assets and pushing Bitcoin down toward $62,800.
- On‑chain metrics show short‑term holders are largely underwater, creating the risk that gains will trigger selling from buyers who paid higher prices and limiting upside momentum.
- Traders will watch mid‑week U.S. inflation prints and Fed comments for signs of rate pressure, because higher energy costs could keep interest rates firmer and further reduce demand for non‑yielding assets like Bitcoin.