Bitcoin climbed above $65,000 this week, extending a rally that's now in its fifth consecutive day of US spot ETF inflows. The broader crypto market rose 1.56% in 24 hours, pushing total market capitalization to $2.24 trillion. Renewed regulatory optimism is underpinning the move, traders say — though the real driver may be simpler: money is flowing in.
The ETF streak
US spot Bitcoin ETFs have recorded net inflows for five straight days. That's the longest such run in months. The funds, which launched in early 2024, have become a key barometer for institutional demand. This week's data shows that demand is picking up again after a sluggish spring. Issuers reported higher volumes across the board, though no single fund dominated the flows.
Why sentiment shifted
Regulatory signals have turned more favorable in recent weeks. The SEC has dropped or settled several high-profile enforcement actions, and lawmakers on both sides of the aisle have introduced bills aimed at providing clearer rules for digital assets. That shift has been enough to bring sidelined capital back into the market. Bitcoin's move above $65,000 — a level that had acted as resistance since early June — broke a psychological barrier.
What the data shows
On-chain activity picked up alongside the price. Transaction counts and active addresses both rose, suggesting real usage rather than just exchange speculation. Inflows into US spot Bitcoin ETFs also increased, reinforcing the narrative that institutional buyers are driving this leg. The combination of ETF demand and on-chain growth is a pattern that has historically preceded sustained rallies — though past performance is no guarantee.
The question now is whether the momentum can hold. Bitcoin is testing a zone that previously saw heavy selling. If ETF inflows continue and regulatory clarity keeps improving, the path higher looks open. If not, $65,000 could become resistance again. Traders will be watching next week's ETF flow data closely.
