Bitcoin climbed above $65,800 on Wednesday, reaching its highest level in more than a month as spot exchange-traded funds extended net inflows to a sixth consecutive session. The cryptocurrency has recovered about 15% from its 2026 lows, driven by renewed ETF demand that reversed a punishing quarter marked by heavy redemptions. Spot Bitcoin ETFs have absorbed approximately $779 million since July 13, their longest daily inflow streak since May, lifting total net assets to about $79 billion from roughly $71 billion in late June. The turnaround follows June's $4.7 billion in redemptions, the heaviest monthly outflow since the funds launched, when roughly 90% of trading days closed with net outflows compared to about one-third in late July.
Spot Bitcoin ETFs Record Six-Day Inflow Streak
Spot Bitcoin ETFs recorded their sixth consecutive session of net inflows, drawing approximately $779 million since July 13. The streak represents the longest run of daily inflows since May and has lifted total net assets across the funds to about $79 billion from roughly $71 billion in late June.
The inflow pattern marks a reversal from June, when the funds experienced $4.7 billion in redemptions — the heaviest monthly outflow since their launch. Roughly 90% of June trading days closed with net outflows. In late July, only about one-third have recorded net outflows.
Flows for 2026 remain negative overall at approximately $4.84 billion despite the recent six-day recovery streak.
Bitfinex Analysts Identify $68,000 Resistance Level
Bitfinex analysts flagged $68,000 as the next test for Bitcoin's rally. The level sits near the average purchase price of investors who bought Bitcoin over the past five months, according to the analysts.
Bitfinex analysts stated: "The first retest of this resistance zone is expected to catalyze a sharp response."
The $68,000 level also marks the mid-June high, where the previous rally attempt failed before Bitcoin slid to an early-July trough near $59,000 and a cycle low below $58,000. Above $70,685, overhead supply thins sharply, leaving fewer holders positioned to sell.
Bitcoin has recovered about 15% from its 2026 lows without reclaiming the ranges it held earlier in the year.
FAQ
What price level did Bitcoin reach on Wednesday?
Bitcoin traded above $65,800 on Wednesday, its highest level in more than a month and about 15% above its 2026 lows.
How much have spot Bitcoin ETFs absorbed since July 13?
Spot Bitcoin ETFs have absorbed approximately $779 million since July 13 across six consecutive sessions of net inflows, their longest daily inflow streak since May.
Why did Bitfinex analysts identify $68,000 as a key resistance level?
Bitfinex analysts flagged $68,000 as the level where five months of underwater buyers sit at break-even and may sell into the rally, marking the average purchase price for investors who bought Bitcoin over the past five months.
