Bitcoin Holds Firm as US Spot ETFs Draw $222 Million in One Day

• US Bitcoin ETFs attracted $222 million as Bitcoin held firm.
• Fidelity led inflows while BlackRock posted modest outflows daily overall.
• Bitcoin tested resistance as improving momentum supported cautious recovery efforts.

U.S. spot Bitcoin exchange-traded funds attracted $221.72 million in net inflows on July 2, while Bitcoin continued holding above the $61,000 level despite facing technical resistance. According to SoSoValue, the latest inflows pushed cumulative net investments across the products to $51.08 billion, reinforcing signs that institutional investors remain committed even as the market consolidates.

The funds also recorded $2.13 billion in daily trading volume, while total net assets increased to $74.37 billion. That figure now represents about 6.02% of Bitcoin’s total market capitalization, highlighting the growing role of spot ETFs in the cryptocurrency market. Although Bitcoin has struggled to regain recent highs, continued ETF demand suggests many investors are accumulating instead of reducing exposure. Consequently, the steady inflows have helped support market sentiment during a period of price uncertainty.

Individual fund performance varied throughout the trading session, with Fidelity’s FBTC leading all issuers with $165.96 million in net inflows, followed by ARK 21Shares’ ARKB, which attracted another $91.84 million. Meanwhile, BlackRock’s IBIT posted $40.43 million in net outflows, though it remained the largest spot Bitcoin ETF with approximately $44.91 billion in assets under management. Grayscale’s GBTC reported no daily inflows or outflows. However, the fund continues to show cumulative outflows of more than $27 billion since its conversion into a spot ETF.

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ETF demand supports Bitcoin as price tests major resistance

Besides continued institutional buying, Bitcoin’s technical structure indicates the market is attempting to stabilize following its recent decline. TradingView data showed Bitcoin trading near $61,578, placing it just below the Bollinger Bands’ middle line at approximately $62,217.

That level has become the immediate resistance traders are watching. A sustained move above it could strengthen bullish momentum and bring the upper Bollinger Band near $66,798 into focus. However, buyers must first establish control above the current resistance before confirming a broader recovery. On the downside, the lower Bollinger Band around $57,636 remains the most important support level.

Holding above that area would preserve Bitcoin’s current consolidation range and limit additional selling pressure. Momentum indicators also showed gradual improvement. The Relative Strength Index climbed to 44.24 after recovering from oversold conditions. Although it remains below the neutral 50 level, the indicator suggests buying momentum is beginning to strengthen.

Bitcoin’s ability to remain above $61,000 while U.S. spot ETFs attracted nearly $222 million in a single day underscores continued institutional confidence. If ETF demand remains steady and Bitcoin reclaims the $62,217 resistance level, the market could gain additional momentum while maintaining support above the $57,636 zone.

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