ETF Inflows, Bitcoin Breaks Two-Week High
Bitcoin rallied again on Tuesday (July 21st), continuing its recent rebound after inflows into spot Bitcoin ETFs showed signs of recovering institutional investor interest. Currently, Bitcoin is trading around US$66,186, with intraday levels ranging from US$64,093 to US$66,277.
This increase indicates a return of buying interest after the sharp pressure in recent weeks. Spot Bitcoin ETFs recorded inflows for two consecutive weeks, amounting to US$75.7 million and US$197.4 million, respectively, signaling that large investors are starting to bargain buy.
Crypto sentiment was also helped by volatility in technology and artificial intelligence (AI) stocks. The selloff in chip stocks prompted some market participants to seek alternative assets, including crypto, although overall sentiment has not yet fully recovered.
However, Bitcoin's gains were limited by the conflict between the United States and Iran. The two countries have resumed attacks on each other, while the Strait of Hormuz and Middle East energy routes remain a major market concern. These conditions have kept investors cautious about riskier assets.
In other crypto markets, Ethereum is hovering around US$1,624.95, XRP at US$1,059, Solana at US$77.97, Cardano at US$0.1746, BNB at US$578.15, and Dogecoin at US$0.0734.
As a result, Bitcoin has the potential to continue strengthening if it can stay above the US$66,000 area. The nearest target is US$66,500–US$68,000, while key support is at US$64,000–US$64,100. However, if the Middle East conflict escalates and the US dollar strengthens, the crypto rebound could be stalled. (arl)
Source: Newsmaker.id
