Bitcoin Pauses as July 4th ETF Inflows Explode: $769M Floods In

Bitcoin catches its breath after a fireworks-worthy ETF haul.

Wall Street's holiday appetite? Ravenous.

While Main Street barbecued, institutional money gorged on crypto exposure—$769 million worth in a single day. The digital gold rush isn't slowing down, it's just changing hands.

Funny how ETFs make 'risky' assets suddenly palatable when there's a 2% management fee attached.

Bitcoin demand continues rising

The number of Bitcoin treasuries established by corporations is gaining momentum. Strategy is leading the way with 597,325 coins. These companies now hold 848,902 coins.

Bitcoin Treasury Boom!

51 companies have already added Bitcoin to their treasuries. This shows a clear uptrend.

Dive into all the details in this thread 🧵👇 pic.twitter.com/L5vt9u74fj

The rising demand for Bitcoin is occurring at a time when the supply on exchanges has dropped to 1.2 million, from a year-to-date high of over 1.5 million. 

Recently, shareholders of Vanadi Coffee approved a strategy to acquire more Bitcoin for its balance sheet. The publicly-listed chain that currently operates six cafes based only in Alicante, now aims to become the largest Spanish company with a Bitcoin treasury.

Swedish gaming and web3 company Fragbite Group is also establishing a Bitcoin treasury to ‘future-proof’ its balance sheet. The firm has also appointed a dedicated director to oversee its Treasury operations.

Bitcoin price technicals point to a rebound

The daily chart suggests that Bitcoin may be a coiled spring, ready to pounce. It has remained above the 200-day Weighted Moving Average and formed two unique patterns that often lead to more gains.

It has formed a cup-and-handle pattern and is now in the latter section. It has also formed a bullish flag pattern, which has a tall vertical line and a falling channel. 

Therefore, the most likely scenario is where Bitcoin breaks out and surges to a high of $144,000 in the coming months. A drop below the lower side of the flag section will invalidate the bullish outlook.