BREAKING: Bitcoin Reclaims $64,200 Amid ETF Accumulation Spike and Miner Capitulation

In a surprise intraday turnaround, Bitcoin (BTC) has surged back above $64,200, reversing a 48-hour downtrend and triggering a wave of liquidations in short positions exceeding $32M. The move appears to be driven by renewed ETF inflows and a sharp drop in miner reserves.

📊 Market Snapshot

Price: $64,227 (+3.8% daily)

Volume: $34.6B (up 29% in 24h)

RSI: 62.4 (bullish neutral)

Exchange Outflows: +14,300 BTC (highest since June 18)

🧠 Key Catalysts

ETF Buying Resumes: Spot Bitcoin ETFs have seen net inflows for the first time in 5 sessions. Institutional accounts added an estimated 2,100 BTC, signaling renewed mid-term confidence.

Miner Capitulation: Glassnode data shows miner balances hit a 5-month low, suggesting they’ve begun to sell into strength—often a reversal marker.

Whale Reaccumulation: 8 new whale wallets (1K–10K BTC) opened in the past 72 hours, marking the largest weekly spike in over a month.

🧩 Chart Dynamics

BTC just broke above the 200-hour EMA and is testing resistance near $64,500. A close above this level opens a path to $65,800, with confluence near the .382 Fibonacci retracement of the June high. Failure to hold $63,800 could revalidate the bearish channel.

📆 Short-Term Projection (Next 3 Days)

Day 1: Likely consolidation between $64,000–$64,800.

Day 2: Attempt at $65,800 if volume sustains.

Day 3: Sideways movement with eyes on macro data (U.S. job report).

360° Market Evaluation

✅ Bullish Momentum: Reaccumulation by ETFs and whales supports upward structure.

⚠️ Risk Factor: Miners still offloading BTC—potential supply pressure if volume dries.

📉 Macro Consideration: Next FOMC decision looms. Any hawkish surprise could stall the rally.

BTC’s rebound isn’t just technical—it’s being echoed across major on-chain and institutional metrics. If this holds, July’s final session could be the pivot point for a bullish August.

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