FX.co ★ Bitcoin Hits 5-Week High

Bitcoin climbed toward $66,000 in late July, its highest level in five weeks, as renewed inflows into US-listed spot Bitcoin ETFs signaled improving institutional sentiment despite elevated geopolitical risks. The 13 spot Bitcoin ETFs saw net inflows of $75.7 million over the past week, marking a second consecutive week of gains after nearly two months of steady outflows and bolstering hopes that the cryptocurrency may be establishing a price floor. This rebound unfolded even as renewed US–Iran tensions stoked inflation fears, strengthening expectations that the Federal Reserve could keep interest rates higher for longer. At the same time, investors eyed potential regulatory tailwinds from the proposed US Clarity Act, while Strategy’s continued halt in Bitcoin purchases and emphasis on preserving liquidity helped to temper broader market optimism.