U.S.-listed Bitcoin exchange-traded funds (ETFs) have finally ended their four-day losing streak, bouncing back with a positive trading session following a stretch of heavy outflows.
Data from SoSoValue shows that on August 6, Bitcoin ETFs saw a combined net inflow of approximately $91.6 million. This marks a notable turnaround after four consecutive sessions of outflows totaling over $1.5 billion.
Leading the recovery was BlackRock’s IBIT, which attracted $42 million in inflows. Bitwise’s BITB followed with $26.4 million, while Grayscale’s GBTC added $14.5 million. VanEck’s HODL also participated in the rebound with a more modest $4.1 million. However, not all funds shared in the gains—Ark & 21Shares’ ARKB recorded $5.4 million in outflows.
The streak of ETF outflows coincided with Bitcoin’s own pullback, as the asset slipped below the $120,000 level after a strong rally. With capital now returning to the ETF market, the key question remains: will Bitcoin’s price soon reflect this renewed investor interest?
Can Bitcoin reclaim $120,000?
At the time of writing, Bitcoin is hovering around $115,023, up 0.89% on the day. The asset has moved mostly sideways in recent weeks, stuck below the $115,000 mark since early August.
Bitcoin has slipped around 3% over the past week and is now down roughly 6.5% from its all-time high of $123,000. The recent pullback is largely attributed to profit-taking by both retail and institutional investors looking to lock in gains after the latest rally.
However, signs suggest the selling pressure may be easing. According to an August 6 report from Glassnode, only 45% of recent Bitcoin sales came from holders in profit—indicating that fewer investors are offloading for gains and that the broader wave of selling may be tapering off. This cooling trend could help stabilize Bitcoin’s price in the short term.
For a stronger recovery, though, Bitcoin will likely need renewed momentum from the forces that fueled its previous rally—namely, large-scale institutional inflows via ETFs and corporate accumulation. While the latest ETF inflows remain relatively modest compared to July’s highs, corporate interest in Bitcoin appears to be holding firm, with more publicly traded companies continuing to add BTC to their balance sheets. This ongoing adoption supports a cautiously optimistic outlook.
On the technical front, analysts have identified $117,200 as a key resistance level. Market analyst Rekt Capital notes that a decisive break and hold above this threshold would signal strength and could pave the way for further upside. However, repeated rejections at this level may indicate that the recent rally is starting to lose momentum.
