Bitcoin’s rebound was supported by cash inflows of more than $2 billion rather than speculative leverage, according to the article. U.S.-listed spot bitcoin ETFs absorbed $2.23 billion during the recent surge without a single day of net outflows. Despite a spike in short liquidations, futures open interest fell and funding rates stayed near neutral. Analysts highlighted liquidity channels and rising stablecoin supply, while identifying $81,000 to $86,000 as the next key range.

Bullish bets targeting $70,000 are rising again, but Bitcoin has repeatedly failed to break higher due to a sell wall of about 1.79 million BTC near $65,000. The cryptocurrency has been trapped in a $63,000 to $65,000 range for three weeks and showed little reaction after the U.S. July CPI report. Options data show heavy interest in $70,000 calls and $60,000 puts, signaling both upside positioning and downside defense.