📊 BTC daily data watch｜July 23

After BTC continued its rebound, it entered a consolidation phase. The market has started shifting from “price increases” to observing whether “funds can continue to follow through.”

BTC is currently trading sideways around $66,000. Yesterday it briefly touched around $66,900, setting a new high in nearly five weeks, but then saw a slight pullback, indicating that there is still some pressure around the $68,000 level.

In terms of funding, the US spot BTC ETF recorded approximately $203 million in net inflows yesterday, achieving net inflows for the 6th consecutive trading day. Among them, BlackRock IBIT remains the main source of capital. However, from a larger time-frame perspective, the scale of capital returning in July is still not enough to fully offset the large outflows from May to June. Therefore, it is currently more appropriate to define the situation as capital repair rather than a full return.

Technical levels:

Support: around $65,000
Resistance: around $68,000

If ETF inflows can remain continuous, and BTC can effectively hold above $68,000, market sentiment is likely to improve further; if capital weakens again, short-term range-bound trading may still persist.

At present, BTC is in:

A continued rebound phase, but the strength of inflows still needs further verification.
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