Bitcoin Holds Near $62,000 as ETF Flows Turn Mixed
Spot Bitcoin funds ended a streak of weekly outflows, yet price action remains resilient near the $62,000 level as traders weigh geopolitical risk.
Bitcoin traded in a tight range around $62,000 this week as spot exchange-traded funds recorded their first net weekly inflow in nearly a month. Flow data compiled from issuer disclosures showed BlackRock's IBIT and Fidelity's FBTC absorbing the bulk of new subscriptions, while smaller vehicles from Bitwise and Ark 21Shares reported modest redemptions.
Derivatives markets have quietly repriced. Perpetual funding rates on Binance and OKX drifted back toward neutral after weeks of negative bias, and open interest across the top venues climbed roughly 8 percent from the June trough. Options desks note that implied volatility on one-month tenors compressed to the low 40s, well below the levels seen around the halving.
Macro traders continue to point to the dollar index and Treasury yields as the dominant near-term drivers. With the Federal Reserve widely expected to hold rates steady at its next meeting, most desks are positioning for range-bound conditions into the third quarter, with a break above the $65,000 area required to invalidate the current consolidation.
