Bitcoin ETFs break 10-day outflow streak as BTC rebounds

Bitcoin found short-term relief after US spot Bitcoin ETFs posted $223 million in net inflows on Thursday, their strongest daily intake since May. The move ended a 10-day run of withdrawals that had pulled $2.73 billion from the funds, and it came as BTC rebounded above $60,000 after dropping below $58,000 earlier this week, its lowest level in 21 months.

The shift followed weaker-than-expected US labor data, which led traders to scale back near-term expectations for another Federal Reserve rate hike. Employers added 57,000 jobs in June, well below forecasts, while prior months were revised down by 74,000. The report also showed labor force participation falling to 61.5% and household employment dropping by 507,000.

That softer macro picture helped ease pressure on rate-sensitive assets. The dollar weakened, two-year Treasury yields slipped to about 4.11%, and Bitcoin joined the rebound. Higher rates had weighed on BTC by raising the appeal of cash and short-term government debt.

Still, one day of ETF inflows does not erase the broader trend. Santiment data cited in the source shows nearly $8.5 billion in net outflows from Bitcoin ETFs since early May. BTC has also recovered above its seven-day moving average, but remains below its 30-day average, leaving the wider trend uncertain.