Bitcoin gained 1% last week, marking its fourth consecutive weekly advance for the first time since April, before dropping 5% after reaching a high of $67,000 as short-term holders sold near their breakeven level. Institutional demand remains subdued: net inflows into US spot Bitcoin ETFs totaling $33.9 million over three weeks were offset by $465.2 million in outflows between Thursday and Friday alone. CME Bitcoin futures fell below $6 billion and options hit their lowest since September 2023, while the Coinbase Premium Index has remained negative for over 60 days. Bitcoin is now trading in a range between $63,000 and $68,500 amid uncertain macroeconomic conditions marked by rising diesel prices, potentially persistent inflation, and roughly a one-in-three chance of a rate hike this week.
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