The BTC price has returned above $62,000, and the market seems to be turning somewhat positive for the first time in weeks. While Bitcoin found itself under heavy selling pressure throughout most of June, it seems that buying interest is now beginning to return amid rising institutional participation.
There has been no shortage of big headlines either. BlackRock has moved more than 20,359 BTC, worth around $1.22 billion, to Coinbase over the past four days. At the same time, public companies continue buying Bitcoin at a pace that exceeds this year’s new supply from miners.
What you'll learn 👉
The BTC Price Is Running Into a Big Resistance Level
We had a look at the latest Bitcoin chart shared by Ted Pillows, and one level stands out immediately. Bitcoin currently trades at almost $62,556, which places it slightly below the $62,800 resistance.
The price has tried unsuccessfully to trade above the level several times before, making it a crucial level for the current price action. Despite everything, the overall setup appears to be in the form of a consolidation after the correction in January.
In the past several weeks, Bitcoin has traded in a range from about $59,000 to $63,900. If Bitcoin breaks above $62,800, there is a strong belief that the next target will be $65,000. Support is located at $59,000, and as long as it holds, the recovery will remain intact.
Read Also: Crypto Price Prediction for Today, July 4: Ethereum (ETH), XRP, Cardano (ADA)
Bitcoin ETF Investors Are Buying Again
One of the biggest changes this week came from the ETF market. US spot Bitcoin ETFs brought in about $221.7 million on July 2, ending a streak of 10 consecutive trading days of outflows that had drained more than $2.7 billion from these funds.
Fidelity’s FBTC accounted for roughly $166 million of the inflows, with ARKB also contributing. BlackRock’s IBIT, however, still recorded modest outflows during the same session.
The positive day is encouraging, but it only offsets a small part of June’s selling. Spot Bitcoin ETFs lost around $4.5 billion during June alone, making it the weakest month since these products launched.
Crypto Patel believes those heavy withdrawals resemble capitulation more than panic. Even after this week’s recovery, cumulative ETF outflows since early May still stand near $8.7 billion.
Companies Continue Buying More Bitcoin Than Miners Produce
Corporate demand tells a very different story. Coin Telegraph shared that public companies have purchased a net 166,984 BTC this year. During that same period, miners produced only 81,153 BTC.
🚨BLACKROCK MOVED $1.22 BILLION IN BITCOIN TO COINBASE IN FOUR DAYS
— Coin Bureau (@coinbureau) July 4, 2026
BlackRock has deposited 20,359 BTC worth roughly $1.22 billion to Coinbase in the past four days.
The latest transfer was 4,917 BTC worth roughly $301 million. pic.twitter.com/myikfJW0SE
That means listed companies have absorbed more than twice the amount of newly mined Bitcoin entering circulation, creating a supply imbalance that continues supporting Bitcoin’s long-term outlook.
Coin Bureau shared that BlackRock’s transfer of 20,359 BTC to Coinbase also attracted attention. Large transfers to exchange-linked wallets always get traders talking, although movements like these do not automatically mean coins are about to be sold.
🔥 BULLISH: Public companies have bought a net 166,984 $BTC this year, more than 2x the 81,153 $BTC mined YTD, per BTC Treasuries.. pic.twitter.com/2ZPV3L4Res
— Cointelegraph (@Cointelegraph) July 4, 2026
Bitcoin adoption is also expanding outside the ETF market. Germany’s Sparkassen and Volksbanken are preparing to introduce Bitcoin trading to a combined 50 million banking customers through their mobile apps under Europe’s MiCA framework.
Bitcoin’s CEO Brian Armstrong took advantage of the week to remind everyone that Bitcoin is a great hedge for the rising debt levels of governments across the world as evidenced by the $39.3 trillion national debt of the USA.
Where Does the BTC Price Go From Here?
The market looks healthier than it did a few weeks ago. ETF inflows have finally returned, companies continue buying Bitcoin faster than miners can produce it, and adoption through traditional financial institutions keeps expanding.
The technical picture now comes down to one level. If the BTC price breaks above $62,800, the market could quickly turn its attention toward $65,000. If buyers lose momentum, $59,000 remains the most important support to watch.
Bitcoin has arrived at a point where both the technical chart and institutional activity could decide the next move. The next few trading sessions should give investors a much clearer picture of where the market wants to go.
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