Bitcoin Reclaims $63K in July Rebound Amid ETF Outflows and Whale Buying

The crypto market has started July on firmer footing, with Bitcoin reclaiming $63K after a brutal first half. The price of BTC is currently trading at around $63,148, up 0.70% on the day and 6.09% over the past week. This rebound follows a decline in June, during which Bitcoin fell to a fresh 21-month low before closing the month around $60,000.

Two forces are driving the market in opposite directions: institutional demand remains weak due to ETF outflows, while large holders have been buying the dip aggressively. The scale of these crypto ETF outflows prompted Citigroup to cut its one-year BTC target from $112,000 to $82,000.

The rebound is broad-based across the majors, with Ethereum trading near $1,774 and BNB at $583.85. However, Ethereum remains the weakest of the top names on a YTD basis, down 40.20%. The standout performer among the large caps is Hyperliquid, up 181.28% year-to-date.