What’s most worth paying attention to in BTC right now isn’t how much it’s risen, but the fact that more and more bearish news is getting absorbed and can’t push it down.
The CLARITY Act has been postponed to September, and regulatory catalysts failed to materialize—but BTC is still holding around $65,000.
More importantly, the money is still coming in.
This week, net inflows into US spot BTC ETFs were about $755 million, potentially making it one of the best-performing weeks since April.
On-chain, the picture is just as clear: since July 29, whales holding 10–10,000 BTC have accumulated more than 20,000 additional BTC, worth roughly $1.2 billion.
ETFs are buying, and whales are also buying—but the price hasn’t risen noticeably yet.
That’s actually the core reason why I’m currently leaning bullish.
Because bottoms often aren’t formed by big money buying all at once and then prices blasting higher immediately. Instead, it’s usually:
Accumulation of funds → price goes sideways → retail investors lose patience → floating supply decreases → and only then does the market choose a direction.
And macro conditions are starting to cooperate too.
July’s US non-farm payrolls unexpectedly fell by 23,000, and employment has clearly cooled. If subsequent data keeps weakening, pressure from interest rates and the US dollar would ease—naturally benefiting a high-beta asset like BTC.
That said, I won’t directly call for a bull market restart right now.
Next, the key is $65K–$66K.
If it breaks out with volume and holds above that level, I’ll continue to watch $68K–$70K. If ETF inflows weaken and BTC slips back below $62K–$63K, then we’ll need to reassess.
So my view is very clear right now:
Choppy trading in the short term, moderately bullish in the medium term; don’t chase—watch pullbacks and add in batches.
The CLARITY postponement only pushes the catalyst further out; it hasn’t changed the fact that capital is flowing back in.
The real thing worth worrying about is never simply that “bad news appears,”
but that “good news gets nobody to buy.”
And right now, it’s actually the opposite—
The news isn’t great, but the money has already started to come back.
The CLARITY Act has been postponed to September, and regulatory catalysts failed to materialize—but BTC is still holding around $65,000.
More importantly, the money is still coming in.
This week, net inflows into US spot BTC ETFs were about $755 million, potentially making it one of the best-performing weeks since April.
On-chain, the picture is just as clear: since July 29, whales holding 10–10,000 BTC have accumulated more than 20,000 additional BTC, worth roughly $1.2 billion.
ETFs are buying, and whales are also buying—but the price hasn’t risen noticeably yet.
That’s actually the core reason why I’m currently leaning bullish.
Because bottoms often aren’t formed by big money buying all at once and then prices blasting higher immediately. Instead, it’s usually:
Accumulation of funds → price goes sideways → retail investors lose patience → floating supply decreases → and only then does the market choose a direction.
And macro conditions are starting to cooperate too.
July’s US non-farm payrolls unexpectedly fell by 23,000, and employment has clearly cooled. If subsequent data keeps weakening, pressure from interest rates and the US dollar would ease—naturally benefiting a high-beta asset like BTC.
That said, I won’t directly call for a bull market restart right now.
Next, the key is $65K–$66K.
If it breaks out with volume and holds above that level, I’ll continue to watch $68K–$70K. If ETF inflows weaken and BTC slips back below $62K–$63K, then we’ll need to reassess.
So my view is very clear right now:
Choppy trading in the short term, moderately bullish in the medium term; don’t chase—watch pullbacks and add in batches.
The CLARITY postponement only pushes the catalyst further out; it hasn’t changed the fact that capital is flowing back in.
The real thing worth worrying about is never simply that “bad news appears,”
but that “good news gets nobody to buy.”
And right now, it’s actually the opposite—
The news isn’t great, but the money has already started to come back.
