Bitcoin Ticks Up 2.56% Amid Renewed Institutional Demand

Bitcoin's price has ticked up 2.56% to $61,469 as institutional demand signals renewed interest in the cryptocurrency.

A recent influx of $221.72 million into U.S. spot Bitcoin ETFs on July 2 has broken a 10-day outflow streak, improving near-term liquidity and acting as a counterbalance to selling momentum.

Long-term holders have shifted from distributing to accumulating, with participation across large and small wallet cohorts strengthening underlying market support.

Despite this positive backdrop, technical resistance remains in play, with the Ichimoku Kijun level of $62,895 acting as a key barrier. Short-term momentum indicators offer mixed signals, with some indicators suggesting a buy while others are neutral or overbought.