U.S. spot Bitcoin ETFs draw $368M in three days as Bitcoin tries to recover

US spot Bitcoin ETFs pulled in another $79.2 million on Thursday, pushing the three-day inflow total to roughly $368 million. The buying comes as Bitcoin tries to recover from recent losses, with the largest cryptocurrency trading near $62,500 at press time, up about 4% from Monday's low.

The streak marks a clear reversal from the prior week, when net outflows dominated. Thursday's $79.2 million intake was the strongest single-day figure in this run, according to data reported by CoinTelegraph. BlackRock's IBIT and Fidelity's FBTC captured the bulk of the money. Grayscale's GBTC saw zero net flows for a third straight day, suggesting the conversion-driven selling pressure that plagued the fund after its ETF conversion has largely exhausted.

What sparked the turnaround? A softer-than-expected June CPI report earlier this week gave markets a jolt. Lower inflation readings fuel bets that the Federal Reserve could cut rates sooner, which tends to boost risk assets like Bitcoin. Technically, Bitcoin bounced off its 200-day moving average on Monday – a level that historically attracts dip buyers. The combination of macro optimism and a clean technical support appears to have brought institutional money back in.

Yet the recovery is still fragile. Bitcoin remains down roughly 12% from its June high of $71,000. The ETF inflows could evaporate quickly if the price fails to hold above $60,000. Large options expiry next Friday – with a heavy concentration of $65,000 call options – could either pull the price higher or cap it, depending on market-maker hedging.

For now, the three-day streak shows institutional conviction hasn't cracked. But next week brings fresh data: July jobless claims and the Fed's preferred inflation gauge, the PCE index. If the macro tailwinds hold and ETF flows stay positive, Bitcoin may build on its gains. If flows reverse, expect a retest of the June lows near $57,500.