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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InDriven 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 toward the $65,000 threshold.
This influx of capital aligns with aggressive positioning in the derivatives market, where traders are targeting a breakout above key technical hurdles. Market data reveals $5 billion in open interest for call options at the $70,000 and $72,000 strikes on Deribit, signaling high conviction in further upside. The dominance of call options over puts, supported by institutional-grade bull call spreads, suggests that the market is actively preparing for a move beyond the immediate $67,300 resistance level.
As of the July 24, 2026 close, Bitcoin remains focused on clearing the $67,300 resistance to open 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.