The US spot Bitcoin ETF market has finally shown positive momentum. For the trading week from July 6 to July 10, the total net inflow amounted to $197.4 million. This event broke a prolonged streak of outflows that had lasted a record eight consecutive weeks.
For me, as an analyst, this reversal is an extremely important signal. Over the previous two months, the market was under pressure: starting from the week of May 11–15, funds recorded exclusively capital outflows. Total losses during this period reached a substantial $8.26 billion. The heaviest weeks were June 22–26 (outflow of $1.79 billion) and June 1–5 (outflow of $1.72 billion).
Unsurprisingly, this negativity was accompanied by a correction in the Bitcoin price. By the close of trading on July 10, BTC was around $63,917, noticeably lower than the spring highs. The total net assets of the funds meanwhile shrank to $77.42 billion.
However, the very fact of the return of inflows, albeit modest compared to previous losses, indicates a shift in sentiment among large investors. It is too early to talk about a full recovery, but this is the first "green" signal in a long time.
Altcoins: Ethereum's leadership and fragmented dynamics
The picture for other cryptocurrency ETFs over the same week was mixed, but generally positive. The absolute leader among altcoins was Ethereum: ETH funds attracted $84.42 million, confidently taking second place after Bitcoin.
Other assets showed much more modest but still positive results. Solana ETFs added $930,000, Chainlink (LINK) added $639,000, Hedera (HBAR) added $1.01 million, and Hyperliquid (HYPE) added $10.36 million.
At the same time, there were also outflows. XRP funds lost $7.18 thousand, and Litecoin (LTC) funds lost $429 thousand. This suggests that investors remain extremely selective and prefer to concentrate capital in the most liquid and "proven" assets — BTC and ETH.
My comment: The return of inflows into BTC ETFs is a positive but still fragile signal. To confirm a trend reversal, we need to see sustained inflows for at least two to three weeks. If this is merely a temporary respite, the market could face a new wave of pressure. We are monitoring the dynamics.