Overview
- Bitcoin has traded in a tight $62,000–$66,000 band for weeks with three-year low volumes and collapsed implied volatility leaving the market fragile to either side.
- U.S. spot Bitcoin ETFs recorded roughly $853.5 million of net inflows in the prior week with BlackRock’s IBIT accounting for about $693.7 million of that demand.
- Strategy, Michael Saylor’s company, has sold 6,916 BTC since June worth more than $440 million and those corporate sales have helped offset ETF buying pressure.
- Large whale addresses added roughly 46,420 BTC in a recent 60-day span even as smaller holders sold and a Coldcard wallet exploit removed over $100 million from cold storage.
- Wednesday’s U.S. July CPI release is the main near-term catalyst traders are watching because weak trading and concentrated flows mean that a shock in inflation or Fed signals could push price decisively out of the range.