Bitcoin Holds Above $62,000 as ETF Inflows Return
The cryptocurrency market traded higher heading into the weekend, supported by recovering institutional inflows, resilient price action and improving sentiment across several major digital assets. Bitcoin continued consolidating above the $62,000 level after rebounding sharply from recent lows, while exchange-traded fund (ETF) flows turned positive following several sessions of heavy selling.
Summary:
- Bitcoin traded around $62,440, maintaining its recovery above the $62,000 support level.
- The total crypto market capitalization rose to $2.16 trillion.
- Bitcoin ETF flows reversed from nearly $750 million of cumulative outflows between June 29 and July 1 to a $223.5 million net inflow on July 2.
- More than $241 million in crypto positions were liquidated during the past 24 hours, with Ethereum accounting for the largest share.
Although derivatives data still points to elevated volatility, the return of institutional buying suggests long-term investors remain active despite cautious retail sentiment.
Market Advances Despite Cautious Sentiment
Despite the gains, the CoinMarketCap’s crypto Fear & Greed Index remained at 25, firmly within the “Fear” zone. Historically, prolonged periods of subdued sentiment accompanied by rising prices often indicate that institutional investors are accumulating positions while retail participation remains relatively limited.
Bitcoin continued to dominate market activity, trading at approximately $62,440, up around 1.27% over the previous 24 hours and more than 3.5% over the past week. Ethereum added 1.76%, XRP rose 3.34%, Solana gained 0.89%, while Hyperliquid outperformed several large-cap assets with a 4.83% daily increase.
The broader market also reflected improving participation across major cryptocurrencies, although the Altcoin Season Index remained at 49, suggesting market leadership continues to favor Bitcoin rather than a broad-based rotation into alternative digital assets.
Bitcoin Technical Structure Remains Constructive
Bitcoin’s recent price action continues to support a constructive medium-term outlook.
After falling below $59,000 earlier in the week, buyers quickly regained control, pushing the asset back above $62,000 where it has since entered a period of relatively tight consolidation. The steady sequence of higher highs and higher lows visible over the past several trading sessions suggests buyers continue defending higher price levels rather than taking profits aggressively.
Technical indicators also reflect a market searching for its next directional catalyst rather than showing signs of exhaustion.
The Relative Strength Index (RSI) is trading near 48, remaining close to neutral territory. This indicates that Bitcoin is neither overbought nor oversold, leaving room for additional upside if buying momentum accelerates. Meanwhile, the MACD remains slightly negative, although the narrowing distance between the MACD and signal lines suggests bearish momentum has weakened considerably compared with earlier in the week.
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From a technical perspective, maintaining support above $62,000 keeps the short-term bullish structure intact. A sustained move above recent highs near $63,000 could open the way toward another test of higher resistance levels, while failure to hold current support would likely encourage renewed volatility.
ETF Flows Signal Institutional Buyers Are Returning
Institutional positioning improved after several sessions dominated by selling pressure.
Between June 29 and July 1, U.S. spot Bitcoin ETFs experienced persistent capital outflows totaling approximately $749.6 million, including $231.0 million on June 29, $222.6 million on June 30, and $296.0 million on July 1. According to data from FarSide Investors, the majority of the withdrawals came from BlackRock’s IBIT, although several other issuers also recorded negative flows during the period.
The trend shifted on July 2, when Bitcoin ETFs generated $223.5 million in net inflows, marking the strongest institutional buying session in several days. Fidelity’s FBTC attracted $166.0 million, while ARKB added $91.8 million. Although BlackRock’s IBIT still recorded $40.4 million in outflows, the overall improvement suggests institutional investors began rebuilding exposure after the recent market correction.
Ethereum ETFs also displayed improving demand. Following modest outflows through much of June, net inflows strengthened during the latest sessions, with funds recording $29.9 million on June 29, $27.6 million on June 30, $14.8 million on July 1, and $29.0 million on July 2. The consistency of positive subscriptions indicates investors continue increasing exposure despite Ethereum trading below previous highs.
Capital continued flowing into newer digital asset investment products as well. Solana ETFs recorded net flows of $5.5 million, -$2.5 million, $0.5 million and $2.2 million between June 29 and July 2, while Hyperliquid ETFs generated $2.2 million, -$3.0 million, $2.9 million and $2.2 million over the same period. Meanwhile data from Coinglass shows that, spot XRP ETFs returned to positive territory with $6.22 million in net inflows on July 2, reversing the previous session’s modest outflow.
The reversal across multiple ETF products suggests institutional investors remain willing to allocate capital to digital assets despite continued macroeconomic uncertainty, reinforcing the view that professional demand has become one of the market’s primary sources of liquidity.
Liquidations Show Leverage Is Still Being Cleared
Derivatives markets continue to reflect elevated volatility despite the broader market recovery.
According to the latest liquidation data, approximately 69,192 traders were liquidated during the past 24 hours, with total liquidations reaching $241.41 million. Short positions accounted for the majority of losses at $193.99 million, while long liquidations totaled $47.42 million, illustrating that the latest upward move caught bearish traders off guard.
Ethereum recorded the largest single liquidation exposure at approximately $85.12 million, followed by Bitcoin with $70.98 million, while Solana accounted for $17.41 million. Additional liquidations were recorded across XRP, Hyperliquid, Zcash and several mid-cap tokens, highlighting that volatility remains elevated across the broader market rather than being isolated to Bitcoin alone.
The largest individual liquidation order occurred on Binance’s ETHUSDT pair, valued at approximately $10.09 million.
Although elevated liquidations often increase short-term volatility, they can also help reset excessive leverage within derivatives markets. Combined with improving ETF inflows and Bitcoin’s ability to maintain support above $62,000, the latest market data suggests institutional demand is gradually offsetting speculative positioning, providing a more stable foundation as investors await the next major macroeconomic or regulatory catalyst.
The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.
Alexander Zdravkov
Reporter at CoinsPress
Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
