data<\/a> from SoSoValue, the 12 spot Bitcoin ETFs recorded $769.6 million over the past week, a 65% drop from the prior week when these investment products drew in $2.22 billion.<\/p>\nThe week began with $102.14 million in net inflows on Monday, followed by significant outflows of $342.25 million on Tuesday. Momentum reversed midweek, with inflows of $407.78 million on Wednesday and $601.94 million on Thursday, the highest single-day inflow since May. Markets remained closed on Friday in observance of the U.S. Independence Day holiday.<\/p>\n
Among the issuers, BlackRock\u2019s IBIT led with $336.8 million in weekly inflows, followed by Fidelity\u2019s FBTC with $248.4 million and ARK 21Shares\u2019 ARKB with $160 million.<\/p>\n
Other funds, including Bitwise\u2019s BITB, Invesco\u2019s BTCO, Franklin Templeton\u2019s EZBC, Valkyrie\u2019s BRRR, and VanEck\u2019s HODL, along with minor inflows into Grayscale\u2019s new BTC funds, added another $109.2 million in combined inflows. These were partially offset by net outflows of $84.9 million from Grayscale\u2019s legacy GBTC.<\/p>\n
<\/p>\n
The sharp decline in inflows is partly attributed to profit-taking activity, as Bitcoin approached its all-time high near $111,960. Investors are likely locked in gains ahead of the holiday weekend, limiting directional conviction and reducing short-term flows into crypto investment vehicles.<\/p>\n
Broader macroeconomic developments also weighed on sentiment. The June U.S. jobs report came in stronger than expected, with nonfarm payrolls rising by 147,000 versus consensus estimates around 110,000.<\/p>\n
As the report weakened hopes for a July rate cut, investors started rebalancing their exposure to assets such as Bitcoin.<\/p>\n
Simultaneously, market sentiment was impacted by the passage of Trump\u2019s One Big Beautiful Bill, a comprehensive tax and spending package that cleared the Senate on July 1.<\/p>\n
Although the bill included fiscal reforms, it failed to include crypto-related tax provisions that had been proposed by pro-crypto lawmakers, including favorable treatment for staking and mining activities. This disappointed segments of the crypto industry, who had hoped for regulatory clarity and tax relief.<\/p>\n
Following the Senate vote, Bitcoin briefly dropped to $105,000 on July 2, as the investors digested the bill\u2019s implications on the crypto industry. However, the asset swiftly rebounded above $110,000, a day later, after President Trump announced a new trade deal with a key ASEAN partner, restoring some investor confidence.<\/p>\n
As of press time, Bitcoin (BTC) is trading at $109,000, showing little change on the day and hovering just 2.5% below its all-time high.<\/p>\n
Despite lingering concerns over U.S. tariffs, analysts remain optimistic about Bitcoin\u2019s medium-term outlook.<\/p>\n
Standard Chartered recently reaffirmed its Q3 target of $135,000 for Bitcoin and reiterated its year-end forecast of $200,000, citing continued institutional demand and constrained exchange supply.<\/p>\n
Other analysts, including those at Bernstein and BitMEX\u2019s Arthur Hayes, have set even more aggressive targets between $200,000 and $250,000 by year-end, contingent on ETF inflows and global liquidity conditions.<\/p>\n
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