Bitcoin (BTC) has seen an improvement in its outlook after experiencing a 6% weekly gain. The cryptocurrency spent the week being pulled between two scenarios, one highlighting improving on-chain buying pressure and ETF inflows, while the other remained synchronized with sentiment gauges and news events that projected fear.
The spot and futures cumulative volume delta showed a net buying day for Bitcoin on July 15, amounting to $925 million. This orderbook activity absorbed the entire post-CPI pullback in open interest and price without collapsing into it. Meanwhile, the spot Bitcoin ETFs added $107.7 million in net inflows on July 15, marking the second consecutive positive day following $181 million on July 14.
However, market sentiment has yet to catch up with the traction seen in spot, futures, and ETF markets. The Fear & Greed Index sits near 26, still in 'Fear' territory, despite Bitcoin's roughly 4.4% bounce off its recent $62,100 low.