BTC ETF Inflows Surge 5 Days as Macro Cues Limit Upside

Spot BTC ETFs net $865M inflows over five days, yet high bond yields and corporate selling cap gains near $65K resistance.

Woofun AI reports that Bitfinex analysis indicates Bitcoin's current rally is driven by macroeconomic improvements rather than crypto-specific factors. Spot Bitcoin ETFs recorded net inflows of approximately $865.3 million, or 13,300 BTC, over five consecutive trading days, significantly outpacing the 3,150 BTC added to the network.

However, upward momentum is constrained by corporate treasury sales, including 1,638 BTC sold by Strategy last week, and substantial on-chain supply pressure from 1.79 million BTC holdings concentrated in the $62,000 to $65,000 range.

Macroeconomic data shows a cooling U.S. labor market with slower job growth and downward revisions, reducing the probability of a Federal Reserve rate hike in September to 43.9%. While this supports risk assets and lowers short-term yields, long-term U.S. bond yields remain above 5.2%, reflecting inflation and debt concerns. Bitfinex notes that a September hold likely signals a wait-and-see approach. For Bitcoin to break its current range, sustained ETF inflows must overcome selling pressure alongside further easing in inflation data to drive down long-term yields.