Bitcoin Weekly Market Update: BTC Reclaims $65K as ETF Inflows Surge

BTC moved back above $65,000 after weeks of sideways trading. The cryptocurrency is now consolidating between $65,100 and $65,300. This puts Bitcoin near the top of its recent range. It is also Bitcoin's first weekly close above $65,000 since late July. The move gives traders a clearer setup for the new week.

Bitcoin Price Recovery Gains Strength

Bitcoin is up roughly 3% over the past seven days. BTC recovered from the August 1 capitulation low near $62,235. The recovery has been slow but steady. Higher lows have also started to form. This is a healthier pattern than the sharp and directionless trading seen through most of late July.

ETF Inflows Driving Bitcoin's Bounce

Between August 3 and August 7, U.S. spot Bitcoin ETFs recorded $853.54 million in net inflows. This was the largest weekly total since mid-April, according to data reported by Cryptonomist.

According to CoinDesk, BlackRock's IBIT accounted for $693 million of that total. The inflows ended an eight-week outflow streak. Spot Bitcoin ETFs have also recorded no net outflow days throughout August so far. This marks a notable shift after a difficult first half of the year.

However, the broader picture remains mixed. ETFs are still roughly $4.5 billion in the red on a year-to-date basis. One strong week has not erased the earlier losses.

Bitcoin Resistance and Support Levels This Week

Resistance zone: $65,000–$66,000
-Bitcoin has reclaimed the $65,000 level. The next key target is $66,000.
-A sustained move above $65,000 could strengthen the current breakout.
Support zone: $62,000–$62,500
-This range became important after buyers stepped in on August 1.
-A move below this level could weaken the recent recovery.

What Is Fueling Bitcoin's Latest Move?

Weak U.S. jobs data released this week boosted rate-cut expectations. This also improved risk appetite across equities and crypto. The S&P 500 closed the week at a record high. The move came alongside the Bitcoin ETF rebound.

Regulatory optimism is also supporting institutional interest. Franklin Templeton has pointed to possible federal crypto market-structure rules as a potential turning point.

What's Next for Bitcoin as Market Sentiment Improves?

The next major catalyst is the July U.S. CPI data. It is due on August 12. A cooler-than-expected inflation reading could strengthen rate-cut expectations. That could give Bitcoin room to move toward $66,000 and beyond.

Bitcoin's return above $65,000 is a positive sign. Strong ETF inflows add further support. The $853.54 million weekly inflow marks the strongest week since mid-April. Still, traders are waiting for confirmation. The August 12 CPI report could determine Bitcoin's next major move.