Bitcoin ETFs recorded $865.3 million in net inflows over five consecutive sessions, their strongest weekly performance since April, absorbing approximately 13,300 BTC, more than four times the roughly 3,150 BTC newly created by the network. Strategy sold 1,638 BTC for approximately $104.7 million at an average price of $63,957, while an estimated 1.79 million BTC have cost bases between $62,000 and $65,000, creating potential selling pressure. U.S. labor data cooled with July payrolls falling by 23,000 and unemployment reaching 4.1%, reducing expectations for a Federal Reserve rate hike in September to 43.9%. Bitcoin gained slightly more than 2% for the week as the S&P 500 rose 3.58%, and could break above $65,000 if ETF demand remains strong while inflation and long-term yields ease.
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