US-listed spot Bitcoin exchange-traded funds recorded a sixth consecutive day of net inflows, adding $203.1 million on Tuesday. The funds attracted about $930 million across the six-session run, their longest streak of consecutive inflows since April, according to SoSoValue data.
The streak followed a difficult June, when investors pulled billions of dollars out of the products. Five straight days of fresh allocations helped absorb available supply as Bitcoin recovered from its June low near $58,000. The funds have now accumulated $51.8 billion in cumulative net inflows since launch, with total net assets reaching $80.9 billion. Even so, US spot Bitcoin ETFs remain at about $4.84 billion in net outflows year-to-date, a reminder that the recent run has not yet erased the earlier drawdown.
Bitcoin traded above $65,000 during the streak and briefly touched $66,700 on Tuesday, according to HOLDFM Market data. By the following session, the price moved from an intraday low of $65,149 to $66,965 before sellers pushed it back to about $66,000. The asset held a 1.8% gain on the day, but the failure to hold $67,000 suggested traders remained cautious as energy and inflation risks resurfaced. The Crypto Fear and Greed Index rose to "fear"—33—from "extreme fear"—25—a shift that tracks the price recovery without yet signaling full confidence.
Political deal and spot demand drove the rally
Bitcoin's advance began after the White House and Senate negotiators reached an agreement on an ethics provision that had delayed the Digital Asset Market Clarity Act. Treasury Secretary Scott Bessent described the negotiations as being at the "1-yard line," while senators suggested the bill was close to a final vote. The proposed ethics rules address concerns about elected officials and senior government figures holding or promoting crypto assets while in office. Reports that President Donald Trump had accepted the provision helped crypto-linked stocks rally, with Coinbase and Circle shares gaining as much as 10% during the session.
Spot buying activity backed the move. Analyst Ted Pillows wrote, "Consistent spot buying for BTC now. This looks much better."
Consistent spot buying for $BTC now.
— Ted (@TedPillows) July 21, 2026
This looks much better. pic.twitter.com/8HBLNvp4dD
Leverage played a role too. According to CoinGlass data, roughly $163 million in crypto positions were liquidated over 24 hours, including about $97 million in shorts, and those forced purchases by bearish traders helped push Bitcoin through the $65,000 level and accelerate past $66,000 resistance.
Oil prices complicate the path to $67,000
Rising energy costs have added a headwind to the bullish setup. US crude climbed about 2.6% to $84.70 per barrel, its highest level since June 12, as supply fears grew across the Strait of Hormuz and the Red Sea. Washington carried out a tenth consecutive day of strikes against Iran, and Trump warned that Tehran "will pay" for attacks that killed American soldiers. Reuters also reported damage to a tanker near the Strait of Hormuz and disruption involving Saudi crude shipments after threats from Iran-aligned Houthi forces.
Higher energy costs could feed into July inflation figures and leave the Federal Reserve with less room to support financial markets. The dollar strengthened as traders reassessed the odds of higher interest rates, a shift that could weigh on Bitcoin and other speculative assets going forward.
Chart levels frame the next move
Bitcoin has reached the upper boundary of an ascending parallel channel on the four-hour chart. Resistance sits between $67,000 and $67,800, while the channel floor runs near $64,000. A four-hour close above $67,800 would clear the structure and expose $69,500, followed by the psychological $70,000 level.
The bullish case would weaken if Bitcoin closes below the channel floor and loses the daily Bollinger midpoint near $63,800. Such a breakdown could expose the lower daily band at $61,578. Renewed oil gains, further military escalation, or a decline in ETF inflows would each add pressure. Bitcoin needs to convert $67,000 into support before the recovery can extend toward $70,000.
Gunel Ismayilova
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