EL7.AI
CryptoMediumUpdated×4•Originally published 24 July 2026•Updated 24 July 2026•
2 min read

Bitcoin ETFs Draw $1B Inflows as $68K Supply Wall Challenges Upside Momentum

Key Facts

1Nearly $5 billion in open interest has accumulated in Bitcoin call options at the $70,000 and $72,000 strike prices on Deribit.

Driven by a significant wave of institutional adoption, Bitcoin is strengthening its recovery as US spot ETFs provide a robust fundamental floor. According to reports, these ETFs recorded $69 million in net inflows on Wednesday, extending a remarkable seven-day streak that has brought nearly $1 billion in fresh capital into the sector. This institutional momentum has been a key driver in lifting prices 12% from the July lows of $57,800.

This influx of capital now faces a formidable technical challenge that could dampen the immediate breakout narrative. According to reports, a massive cluster of 3.55 million BTC has been identified acting as a supply wall at the $63835.11 level, counteracting the demand generated by ETF inflows. Per market data, while $5 billion in open interest remains at the $70,000 and $72,000 strikes on Deribit, this newly identified resistance represents a significant hurdle for bulls in the near term.

As of July 24, 2026, Bitcoin remains focused on clearing the $63835.11 resistance wall to validate the path toward $72,000. Investors are closely monitoring the upcoming economic calendar for further catalysts, specifically the UK Inflation Rate (CPI) data on July 22, which will be pivotal in determining global liquidity conditions and broader risk appetite within the digital asset ecosystem.