Bitcoin ETFs snap an 8-week outflow streak, but a leverage flush drags BTC below $63,000

Two forces pulled in opposite directions today. On the positive side, Bitcoin ETFs recorded $197 million in net inflows — ending eight consecutive weeks of outflows. That's a notable reversal: sustained ETF outflows had been a persistent drag on BTC price since late spring, and a single session of meaningful inflows suggests at least some institutional buyers are stepping back in at current levels. On the negative side, an Asian-session leverage flush pushed Bitcoin below $63,000. A leverage flush happens when traders who borrowed money to buy Bitcoin get automatically liquidated as prices dip — their positions are force-sold, which pushes prices lower still, triggering more liquidations. The result is a sharper, faster drop than the underlying selling pressure alone would produce. Bitcoin ended the session down 1.31% at $63,046, with most of the top 15 assets following it lower. Ethereum fell 0.85%, XRP dropped 1.18%, and Hyperliquid led losses at -2.80%. The macro backdrop adds another layer of uncertainty. U.S. inflation data is due this week, alongside second-quarter corporate earnings reports. A lower-than-expected inflation reading tends to raise hopes for Federal Reserve rate cuts, which has historically been positive for risk assets including crypto. The current Fear & Greed index reading of 28 reflects the market's cautious posture heading into that data.

• –Bitcoin ETFs drew $197 million in net inflows on Sunday, snapping an eight-week streak of outflows — the longest such run since the ETFs launched in January 2024.
• –The Bank of Thailand announced a crackdown targeting USDT and cash flows linked to gray-market money movement, a development that could affect stablecoin trading volumes in Southeast Asia.
• –U.S. inflation data and second-quarter earnings reports are due this week, two macro events the crypto market has historically reacted to.