US investors poured close to $1 billion into Bitcoin exchange-traded funds over the six trading days ending July 22, 2026, snapping weeks of sluggish inflows and pushing the asset's price modestly higher. According to Farside Investors data, funds run by BlackRock, Morgan Stanley, and Grayscale collectively absorbed over $930 million during the streak. Bitcoin was last trading near $65,860, up about 1% on the week after touching a seven-day peak of $66,891 the day before.
The rebound in ETF appetite comes after a bruising stretch. Bitcoin sits roughly 50% below its October all-time high of $126,080, weighed down by a major liquidation event, the ongoing US-Iran conflict, and persistent inflation pressures.
Analysts see a floor, not a ceiling
CoinShares head of research James Butterfill put it plainly last week: "We have said for some time that Bitcoin has probably reached, or is close to, its floor. But we see no significant upside potential from here." His firm points to macro headwinds, including US airstrikes on Iran and climbing oil prices, as factors that could reignite inflation and keep rate-cut expectations off the table. Bitcoin has historically rallied when inflation cools and rate cuts seem near, so the reverse dynamic is doing it no favors.
A separate note from NYDIG argued the slump is driven more by supply mechanics than by broad risk-off sentiment. The firm also flagged that Bitcoin is the worst-performing major asset so far this year, trailing US Treasuries, silver, and even the Swiss Franc. If the current drawdown mirrors the 2022 bear market in depth and duration, NYDIG suggested a cycle low somewhere around $38,000 to $39,000 remains possible.
This article is for informational purposes only and does not constitute financial advice. Crypto markets are volatile; always do your own research before making investment decisions.
