Bitcoin surged to a two-week high after softer US CPI but lacks sustained ETF inflows or spot demand to hold gains.
Bitcoin closed at its highest level since June 22 after US June CPI data came in softer than expected, driving a repricing of macroeconomic expectations. The rally, however, lacked sustained spot buying, a positive Coinbase premium, or consistent ETF inflows, making it vulnerable to reversal.
The $68,000–$68,300 range remains a critical resistance band, with analysts noting that only steady ETF inflows can confirm acceptance above this level. Without these, the rally may rely on fragile macro sentiment.
Markets remain cautious, as a shift in the rates narrative could quickly undermine the current upward momentum.