Bitcoin experienced a significant surge, climbing back above $63,000 during Asian trading hours on Monday, marking a continued recovery from a tumultuous previous month. The cryptocurrency reached a price of $63,227.5, reflecting an increase of approximately 0.8%, after having briefly hit a two-week high near $64,000 in the preceding session.
This upward movement follows a challenging June for Bitcoin, during which the asset lost around 18% of its value, dipping below the $60,000 mark for the first time in nearly two years. This marked its worst monthly performance since 2022.
Last week, Bitcoin rebounded by approximately 5% from a 21-month low that fell below $58,000, bolstered by new economic data that altered market expectations regarding U.S. interest rates.
The U.S. jobs data for June came in weaker than anticipated, leading to a reduction in the likelihood of the Federal Reserve implementing further interest rate hikes in the near future. Federal Reserve Chair Kevin Warsh noted that inflation continues to moderate, emphasizing a data-driven approach for policymakers. As a result, market expectations for monetary tightening have eased.
Return of ETF Inflows
Additionally, the landscape for Bitcoin exchange-traded funds (ETFs) saw a positive shift, with a return to net inflows last week after a concerning period of outflows. This resurgence in interest helped stabilize investor sentiment, indicating a potential recovery in institutional demand.
Bitcoin Spot ETFs See $222M Net Inflow After 10-Day Outflow Streak
On July 2 (ET), Bitcoin spot ETFs recorded a total net inflow of $222 million, turning positive after 10 consecutive days of net outflows. Ethereum spot ETFs recorded a total net inflow of $29.08 million.
— Wu Blockchain (@WuBlockchain) July 3, 2026
The record outflows observed in June had raised alarms, yet Coinbase Global reported that institutional investors are still accumulating Bitcoin. Reports indicate that sovereign wealth funds are actively adding Bitcoin to their portfolios.
Coinbase also noted that approximately 40 nations are at various stages of stockpiling Bitcoin, with many opting for direct purchases rather than through ETFs. This buying trend often goes unnoticed in ETF flow data.
On social media, analysts have expressed optimism regarding Bitcoin’s price trajectory. One prominent analyst noted on July 4 that Bitcoin appears to be in the final stages of forming a bottom, drawing parallels to price patterns observed in 2022. Others also echoed similar sentiments, suggesting that any further dips could be attributed to market manipulation prior to a significant upward movement.
What Lies Ahead for Bitcoin
Looking forward, analysts have highlighted that trading volumes remain relatively low, indicating that sustaining the current rally will likely depend on continued inflows into ETFs and supportive economic data. The minutes from the Federal Reserve’s June policy meeting are set to be released this week, with traders keenly awaiting insights into the future path of interest rates.
Kalshi prediction market traders currently estimate a 14% chance of Bitcoin reaching $100,000 by the end of 2026. Meanwhile, the Strategic Bitcoin Reserve, established by executive order in March, is garnering renewed attention from congressional leaders advocating for its expansion.
As Bitcoin trades within a critical range of $63,000–$64,000, maintaining this level is crucial for the ongoing recovery. The market watches closely as these developments unfold, with many hopeful for a sustained bullish trend ahead.
