BlackRock put $138.9 million into Bitcoin yesterday. Large holders sold 22 times that amount two days earlier.
Tuesday's ETF session reversed. The 67,000 BTC that whale wallets moved two days earlier is still the bigger number.
CryptoVibe Desk · bitcoin · etf · blackrock
- →BlackRock bought about $138.9 million of Bitcoin on July 15, according to U.Today.
- →US spot Bitcoin ETFs logged $181 million in net inflows, after a $424.7 million outflow on July 13.
- →Bitcoin still needs a weekly close above $72,200 before Tuesday's ETF session looks like a trend.
- short-term holder cost basis → The average price paid by recent Bitcoin buyers, used to judge whether the market is recovering.
- True Market Mean → Glassnode's estimate of the average price Bitcoin holders paid, adjusted for when coins last moved.
BlackRock put $138.9 million into Bitcoin on July 15. U.Today cited an on-chain tracking report for the purchase. It was the fund's first ETF buy of the week.
US spot Bitcoin ETFs logged $181 million in combined net inflows Tuesday, according to U.Today. Two days earlier, the same funds recorded $424.7 million in net outflows, CryptoSlate reported.
The reversal sounds like a turn. The on-chain picture says not yet.
Wallets holding 100-1,000 BTC sold roughly 67,000 BTC on July 13, CryptoSlate reported, citing CryptoQuant. That was about $4.3 billion, or 22 times the prior week's ETF inflows. The demand side isn't keeping up, for now.
Bitcoin traded near $64,609 on Tuesday, up about 3% on the day. If you're watching for a real trend reversal, price matters less than two Glassnode lines. The first is $72,200, the short-term holder cost basis. The second is $76,600, the True Market Mean.
Bitcoin has been below both for roughly five months. That is the only number that matters after one strong ETF session.
ETF trading volume is running $650 million to $950 million per day, CryptoSlate reported, citing Glassnode. That is about 80% below the October 2025 peak. Santiment data cited by CryptoSlate showed 41,800 crypto social comments Tuesday, the second-lowest daily reading since October 2024.
Citi cut its 12-month Bitcoin target to $82,000 from $112,000 this month. It cited weak investor appetite and stalled US crypto legislation.
Citi's $82,000 target is still too high while Bitcoin sits $7,600 below the short-term holder cost basis and ETF volumes run 80% below peak.
Watch for a weekly Bitcoin close above $72,200 before August ends. Without that, Tuesday's ETF inflow is one session, not a recovery.
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