News View Non-AMP

US Bitcoin ETFs Boom with $263M Inflows as Bitcoin Soars 12% Above $60K: Will This Sustain?

Published by
Anjali Belgaumkar

On Friday, U.S. spot Bitcoin Exchange Traded Funds (ETFs) saw a significant inflow of $263 million—the largest one-day increase since July 22. This surge in inflows occurred as Bitcoin climbed above $60,000, marking a 12% rise over the past week.

Fidelity’s Bitcoin ETF (FBTC) led the way, attracting approximately $12 million in new investments, pushing its total weekly inflows to impressive levels. This comes after two consecutive weeks of negative performance, during which the fund experienced outflows. Other Bitcoin ETFs, such as ARK Invest and 21Shares’ Bitcoin ETF (ARCB), also saw strong inflows, ending the day with around $99 million in net gains. 

The broader cryptocurrency market also experienced gains, with Bitcoin’s price rising from $54,600 at the start of the week to over $60,600 by Friday. Speculation suggests that the recent surge in Bitcoin and other cryptocurrencies could be driven by expectations of an upcoming interest rate cut by the U.S. Federal Reserve. 

Bitcoin Price Prediction: How Will This Week Start?

According to analyst Josh of Crypto World,  Bitcoin continues to show a short-term bullish trend, despite being part of a larger bearish trend. Over the past day, there hasn’t been a  shift in the overall trend, as Bitcoin is still forming lower highs and lower lows on the larger timeframes. However, on shorter timeframes, Bitcoin is showing a temporary bullish trend, which has been ongoing for nearly a week.

At present, Bitcoin is approaching a critical resistance level between $60.2k and $61.2k. The analyst noted that after Bitcoin broke above $57,000 and confirmed this as a support level, the bullish sentiment grew stronger, pushing the price towards higher resistance levels. The price faced only minor resistance at $59.5k before advancing toward the current resistance zone, where it is now struggling.

If Bitcoin breaks above $61.2k, the next resistance levels lie at $63k and $64.5k, according to the volume profile indicator. On smaller timeframes, Bitcoin has invalidated a previously expected bearish divergence, continuing its bullish momentum sooner than anticipated.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Ripple Vs SEC To End Today? Former SEC Lawyer Says ‘Highly Unlikely’

The Ripple vs SEC case continues to stir up the crypto community, especially on X…

July 7, 2025

Crypto News Today: Bitcoin Hits Record Weekly Close, Next Stop $112K?

Bitcoin just made history by closing the week at $109,200, its highest weekly close ever.…

July 7, 2025

Lightchain AI Enters Bonus Round With Precision Timing While Dogecoin Hangs on Meme Buzz Alone

Lightchain AI enters its Bonus Round with precision timing, capitalizing on a foundation built through…

July 6, 2025

Traders Focused on Cardano Are Now Watching a Different Project Set to Launch by End of July

Traders focused on Cardano are turning their attention to a new project set to launch…

July 6, 2025

Bitcoin, Ethereum, XRP and Altcoins Could Break Out as as U.S. Prepares for Historic Crypto Week

The crypto market has been unusually quiet lately, but that calm might not last much…

July 6, 2025

Is XRP Price Heading for a Crash?

XRP is currently stuck in a tricky situation as its price struggles to pick a…

July 6, 2025