Bitcoin ETFs are buying again, but Bitcoin is moving in the opposite direction. U.S. spot ETFs pulled in $233.1 million on July 30, led by BlackRock, yet BTC slipped below $63,000.
This has left investors wondering, why is Bitcoin falling while institutions are buying?
U.S. spot Bitcoin ETFs have returned to positive territory after facing heavy selling pressure earlier this week. The funds recorded $233.1 million in net inflows on July 30, with BlackRock’s IBIT driving most of the buying as institutional demand showed signs of returning.
BlackRock remains the key driver behind the latest recovery. Its $183.4 million IBIT inflow accounted for nearly 80% of the total daily inflow. Bitwise’s BITB followed with $20.74 million, while Fidelity’s FBTC added $15.50 million.
Another positive sign came from Grayscale’s GBTC, which recorded no outflows during the latest session.
The latest inflow becomes more notable after a difficult stretch for Bitcoin ETFs. On July 23, the funds recorded $225.1 million in outflows, followed by another $240.1 million on July 24.
Selling continued on July 27 and July 28, with ETFs seeing another $11.6 million and $49.7 million in outflows, respectively. The trend finally changed on July 29, when the funds posted a modest $32.1 million inflow.
The sharp turnaround on July 30 suggests buyers stepped back in after several days of selling rather than continuing to wait for lower Bitcoin prices.
Despite a return in ETF demand, the Bitcoin price dropped 2.59% over 24 hours to around $63,081 and briefly fell below $63,000.
The weakness comes as the market deals with another source of selling pressure. Strategy, one of the largest corporate Bitcoin holders, has announced plans to raise $5 billion, which has raised concerns about possible Bitcoin sales.
At the same time, hawkish signals from central banks have kept pressure on risk assets.
From a technical view, the $62,410 swing low is now an important level for Bitcoin.
If BTC holds above this support, a recovery toward $64,640 could follow. A break below $62,410, however, could increase selling pressure and bring the $60,000 level into focus.
Bitcoin also faces a seasonal challenge as over the past four years, BTC has recorded an average decline of about 10% in August, adding another reason for traders to remain cautious.
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