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Bitcoin crosses $62000 as whales accumulate despite ETF outflows
Economic Times··5 Jul
US spot Bitcoin ETFs turned negative on net flows for 2026 before a $221 million inflow on July 3. Bitfinex said whale accumulation coincided with a negative US spot premium, suggesting buying outside traditional US spot channels. Similar institutional selling with holder accumulation has appeared near prior cycle lows. Can Bitcoin hold above $62,000 if ETF outflows resume?
Prism
What It Means For You
- Bitcoin reached $62,310 on July 3, its highest since June 24, while US spot ETFs saw record June outflows.
- Large holders added over 270,000 BTC worth about $16.7 billion in two weeks, Bitfinex analysts reported.
- Traders watch the $62,000 to $62,500 zone and the 200-week moving average near $62,652.
What's Happening
- Bitcoin climbed above $62,000 on July 3 amid US Independence Day holiday trading.
- US spot Bitcoin ETFs recorded $4.06 billion in outflows during June 2026.
- June US nonfarm payrolls rose 57,000, below expectations, shaping Federal Reserve rate expectations.
Whales Versus ETFs
- ETFs turned negative on net flows for 2026 before a modest $221 million inflow on July 3.
- Bitfinex noted whale buying coincided with a negative US spot premium.
- Solana gained about 15 percent since early June, outpacing Bitcoin in the wider crypto market.
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