Bitcoin reclaims $65K as spot ETFs swing from heavy July outflows to tentative inflows

Bitcoin climbed back to around $65,000 on August 7, recovering some lost ground after a difficult July for crypto markets. Data from major price aggregators show the token up roughly 0.8% over 24 hours, briefly touching the low‑$65,000 range and modestly outperforming a broadly flat digital‑asset market with a total capitalization near $1.3 trillion.

A key driver has been shifting flows in US‑listed spot exchange‑traded funds (ETFs) that hold Bitcoin and Ethereum directly. Recent filings with the Securities and Exchange Commission indicate that flagship spot products run by BlackRock saw a combined net outflow of about $3.5 billion in the second quarter of 2026—a sharp reversal from strong net inflows a year earlier. Early August, however, has brought a tentative turn, with several trading sessions showing small but positive net creations.

The July wave of redemptions weighed heavily on sentiment and amplified downside volatility. Now, some investors appear to be re‑entering the market after seeing prices stabilize above recent lows, using ETFs as an easy access point. Still, the scale of new inflows remains modest relative to prior peaks, and analysts warn that macro data, interest‑rate expectations and regulatory headlines could quickly swing flows back into negative territory. Positioning is thus split between short‑term traders selling into strength and longer‑term holders gradually rebuilding exposure.