The rebound marks the second consecutive day of positive momentum for the sector, according to data from Farside Investors. While BlackRock led the charge, other funds saw mixed results: ARK 21Shares’ ARKB added $33 million, and the Grayscale Bitcoin Mini Trust pulled in $42.3 million. Conversely, the legacy Grayscale GBTC fund continued to bleed capital, recording $44.5 million in outflows.
Institutional appetite appears to be absorbing significant sell-side pressure, including a recent $216 million liquidation by MicroStrategy. Trading volume for Bitcoin surged by over 90% in 24 hours as prices stabilized within the $61,275 to $64,597 range. Analysts at BIT suggest that the market is benefiting from favorable July seasonality and shifting political rhetoric, specifically comments from President Donald Trump regarding the U.S. crypto industry.
Beyond immediate price action, BlackRock is deepening its integration with decentralized finance. Ondo Finance recently deployed on-chain tokens backed by the iShares Core S&P 500 ETF, a move designed to align with SEC staff guidance. Looking ahead, market participants are monitoring the August 7 deadline for the CLARITY Act, which analysts view as a potential catalyst for further regulatory clarity. Bitcoin now faces a key resistance hurdle at $65,955, a level that will test whether the current institutional buying streak has the necessary momentum to sustain a broader recovery.
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