Coinbase Premium

Bitcoin is drawing renewed attention from professional investors as concerns tied to Strategy’s capital structure show signs of easing. Market participants are now watching ETF flows, Coinbase premium trends and long-term holder behavior for evidence that BTC may be approaching a durable bottom.

Bitcoin retreated after touching a two-week high of $64,500, interrupting its strongest run of gains since March. Weak ETF flows, a negative Coinbase premium and sliding futures open interest are raising questions about whether the July rebound has durable spot demand behind it.

Bitcoin’s July recovery is facing scrutiny after a six-day winning streak gave way to renewed pressure. Weak U.S. demand signals, spot ETF outflows and rising global bond yields are keeping traders cautious despite a more constructive seasonal backdrop.

Bitcoin drifted toward $63,000 as investors pulled back from risk assets and high-flying tech shares sold off. Traders are watching U.S. data, Micron earnings, and key support near $59,000 to $60,000.