ETF Inflows Offset Strategy's Sell-Off, BTC Stabilizes
0xBroomberg
Strategy completed its first major corporate Bitcoin sell-off, yet spot ETFs drew over $200 million per day for three straight sessions — absorbing the pressure. BTC has rebounded roughly 10.5% from its cycle low, reclaiming pre-announcement levels.
How much did Strategy sell — and why didn't the market break?
Strategy's sell-off ran mainly from June 29 to July 2 — the firm's first large-scale reduction of its corporate Bitcoin holdings.
Yet Bitcoin still posted a weekly gain during that same stretch, bouncing nearly 10.5% from its July 1 cycle low of $57,803.
This means → real selling pressure hit the market, but buyers absorbed it in real time. The next question: who was buying?
Who stepped in? What do ETF flows tell us?
U.S. spot Bitcoin ETFs recorded daily net inflows above $200 million over the past three trading days, snapping a 10-session outflow streak totaling $2.73 billion.
In plain terms = ETF investors had been redeeming for nearly two weeks straight; now the direction has reversed, and capital is flowing back in.
Through June, ETFs saw roughly $4.06 billion in net redemptions, with weekly outflows running nine consecutive weeks. This reflects liquidity-driven redemptions — underlying Bitcoin reserves shrank, but the selling did not necessarily trigger immediate on-chain disposals.
Why does the $61,000 level matter?
Bitfinex argues that Bitcoin's recovery to pre-announcement prices makes the ~$61,000 zone the key pivot for gauging bullish vs. bearish momentum.
In plain terms = if price holds here, the market has digested the largest single seller's impact. If it doesn't, bears regain control.
What does on-chain data say — is this a bottom signal?
Roughly 10.83 million BTC are currently held at a loss, outnumbering the 9.22 million still in profit. This means → more holders are now underwater than in the green.
Bitfinex notes that a similar holding structure has historically appeared near significant market bottoms.
However, the report stresses it is too early to declare the broader downtrend over — Bitcoin must sustain a foothold above the "true market mean" of ~$71,500 to provide a stronger macro-bottom confirmation.
Put simply = the *shape* of a bottom is forming, but confirming a real trend reversal requires price to close roughly another $10,000 higher.
Content is for reference only, not financial advice.