Bitcoin (BTC) has risen above… 62 thousand dollars Mark and try to move higher. According to data from Farside Investors. July 2 Spot Bitcoin ETFs saw inflows of $ $223.5 million.
This comes after nearly two weeks of capital outflow from ETFS. The shift in investor confidence helps explain what happened Thursday 2.56% Move up. At the time of writing, this short-term bounce is underway and… 64 thousand dollars The local resistance area is the immediate target.
Weaker-than-expected US jobs data has fueled expectations that the Fed will do just that Low interest ratesWhich helps explain the short-term price rebound.
Is Bitcoin giving an early buy signal?
Cryptocurrency analyst Axel Adler Jr. drew attention to the Bitcoin Advanced Net UTXO supply ratio chart. This metric measures the net BTC supply balance in profit and loss. The ratio has fallen deeply into negative territory in recent weeks, triggering a green “buy” signal on the chart.
This was the first buy signal since then November 2022. At that time, the signal shift came along with the market bottom and recovery from cyclical lows.
This time, confirmation will be if the ratio remains stable above zero, and Bitcoin The price continues to rise in the coming weeks.
Looming threats for Bitcoin investors
AMBCrypto reports that mining companies such as RiotPlatform and Mara Holdings, Inc. and Hot 8 Mining Corp. She sold her Bitcoin holdings. This was a reaction to increasingly expensive mining operations, which increased the cost of mining Downward strain In the market.
The Crypto Onchain analyst pointed to the spike in miner outflows to suggest that these entities were selling their holdings to cover operating costs. This idea is consistent with the data presented earlier.
Additionally, Binance stablecoin net inflows averaged – 126 million dollars daily, while financing rates remained positive. The combination of these factors showed smart money, and miners were selling their spot holdings while small retail operators tried to “grab the knife” and buy on the dip.
The analyst concluded that historically, legacy spot supply entering the market at a time when smaller market participants are offering long-term leverage tends to precede a sustained price decline and long squeeze.
Final summary
- Bitcoin’s advanced UTXO supply ratio chart showed a buy signal for the first time since November 2022, when the signal marked a cyclical bottom.
- Increased retail leverage combined with smart money offloading of spot holdings suggests a deeper price decline is likely later in 2026.
