US spot Bitcoin ETFs accumulated over 14,000 BTC in five days ending August 7, marking the strongest institutional inflow stretch since May and reversing the 110,000 BTC outflow that defined the second quarter’s back half.
Bitcoin has traded flat near $63,500, confined to a six-month range between $60,000 and $80,000. Spot volumes have fallen to two-and-a-half-year lows, and perpetual volumes to three-year lows, while volatility sits near multi-year troughs.
The shift in fund flows signals a reversal of the institutional selling pressure that characterized Q2. Third-quarter data shows roughly 11,000 BTC of net inflows across the period. Perpetual open interest held near 300,000 BTC through the summer months.
Yusuf Fakhro, partner at ARP Digital, described the five-day inflow as “the strongest stretch since May.” He added that “Fresh demand arriving into the thinnest tape in years, when nobody is watching, is how durable bottoms tend to form.”
On-chain data is showing bottoming characteristics, with sentiment shifting from panic to caution. Bitcoin is holding near a 50% drawdown level from recent highs.
