Fidelity Wise Origin Bitcoin Fund (FBTC) recorded $15.5 million in daily net inflows on July 31, reversing a $43 million outflow from the previous day. The total daily net inflow across U.S. Spot Bitcoin ETFs reached $233 million, its highest level in three weeks. However, the Coinbase Premium Index remained negative, indicating weaker demand from U.S. investors, while approximately 2,900 BTC entered exchanges on a net basis, creating potential sell-side pressure. Directional indicators favored bears with the negative indicator at 22 versus 17 for the positive, and the ADX at 21 suggested a lack of strong trend conviction. A continued breakdown could push BTC toward $62,000, while sustained institutional inflows might support a recovery toward $70,000.
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