Bitcoin ETF inflows return, but $2.3 billion stablecoin liquidity drain leaves $57,000 exposed
Bitcoin has stabilized near $64,000 after two weeks of spot ETF inflows, but the recovery looks fragile because crypto liquidity is shrinking and macro risks are rising. US-listed Bitcoin ETFs took in $273 million over the last two weeks, reversing an eight-week outflow streak of more than $8 billion, yet most of the inflow came from BlackRock’s IBIT, showing narrow demand. At the same time, stablecoin reserves on major exchanges have fallen by about $2.3 billion, reducing ready capital to buy dips or fuel a breakout above the $60,000–$65,000 range. That pressure is being compounded by a jump in oil prices and conflict-related disruption around the Strait of Hormuz, which could revive inflation and keep financial conditions tight. If Bitcoin loses support near $60,000–$61,000, leveraged long positions clustered around $55,000–$57,000 could face heavy liquidations.
