Bitcoin ETF Inflows Return—$91.6M Added As BTC-USD Presses $117,200 And Eyes $120,000

BTC-USD | Spot Bitcoin ETF Flows Flip Positive As Price Grinds Back To $115,000–$117,400

U.S. spot Bitcoin ETFs snapped a four-day redemption streak with $91.5–$91.6 million of net creations on August 6 while BTC-USD rebounded toward $117,000 after probing the lower end of the $110,000–$116,000 pocket earlier in the week. Flow leadership was clear: BlackRock iShares Bitcoin Trust (IBIT) pulled in about $42 million, Bitwise BITB added roughly $26.3–$26.4 million, Grayscale GBTC saw about $14.5 million of net creations, and VanEck HODL attracted ~$4.1 million; Ark/21Shares ARKB remained an outlier with ~$5.3–$5.4 million of outflows despite the broader bid. Into the U.S. close, BTC-USD was up roughly 0.8%–2.1% intraday, trading between ~$115,000 and ~$117,400 as primary market demand re-appeared and cash markets tightened.

BTC-USD | Key Levels Are Clear: $111,800 Support Held, $117,200 Is The Trigger, $120,000 Opens Runway Toward $123,000

The tape defended $111,800–$112,000 twice this week and rotated higher as ETF creations returned. Technicians are focused on $117,200 as the momentum unlock; sustained closes above $117,200 typically pull in systematic buyers and prompt dealer de-hedging, which puts the round-number magnet at $120,000 in play and, beyond that, the local high near ~$123,000. Failure to stick above $117,200 keeps BTC-USD range-bound inside $111,800–$120,000; a decisive break back below $111,800 would hand control to sellers and reopen $110,000 and the high-$100,000s as downside tests.

BTC-USD | Flow Leadership Rotated Back To IBIT And BITB While ARKB Lagged—What That Says About Buyer Profile

IBIT’s ~$42 million and BITB’s ~$26 million indicate the day’s bid skewed institutional and fee-sensitive, with allocators choosing the deepest liquidity and tightest spreads for re-entries. GBTC’s ~$14.5 million shows the basis/arbitrage complex remains active when discounts compress. ARKB’s ~$5.4 million outflow, during a positive flow day, likely reflects platform-level rebalancing rather than broad risk aversion. Net-net, the pattern points to real-money additions on weakness rather than just short-covering, a constructive signal for BTC-USD around $115,000–$117,000.

BTC-USD | Macro Impulse Flipped To Tailwind: Cut Odds Rose And Retirement-Plan Headlines Amplified The Bid

Softer labor revisions and rising odds of a September policy cut eased real yields, improving risk appetite just as BTC-USD was down ~6.5% from the ~$123,000 peak. A U.S. push to widen crypto access inside 401(k) menus added a medium-term distribution channel for spot ETFs; even if operational lead times are long, the narrative expands the potential buyer base. The combination—rate-cut speculation, policy momentum, and a visible $91.5–$91.6 million inflow—created a clean catalyst for the bounce toward $117,000.

BTC-USD | Structure And Liquidity: ~$110B ETF AUM Base Makes Daily Flows Highly Price-Sensitive Around $115,000–$117,000

With U.S. spot Bitcoin ETF assets hovering north of roughly $110 billion in recent months, marginal swings of $50–$150 million in creations or redemptions carry outsized impact when liquidity thins inside the $110,000–$116,000 “air gap.” That’s why a modest positive day—$91.5–$91.6 million—saw BTC-USD step quickly from ~$114,500 to nearly ~$117,000. Stringing together multiple sessions of >$100 million net inflows would likely force a test of $120,000; a relapse into net outflows would put $111,800 back in the crosshairs.

BTC-USD | Breadth Check Across Crypto Wrappers: Ether ETF Inflows Returned, Confirming Risk Tone

Spot Ether ETFs drew about $35.1 million on the day and more than $110 million across two sessions, a timely corroboration that the renewed bid wasn’t isolated to Bitcoin. When both wrappers take capital simultaneously, desks typically add index beta rather than cherry-pick, mechanically improving the odds that BTC-USD holds ~$115,000 during consolidations and makes cleaner attempts at $117,200 and $120,000.

BTC-USD | Microstructure Watchlist: Creations, Basis, And The $100M Daily Threshold

Consecutive sessions of net creations above ~$100 million tend to compress ETF discounts to NAV and tighten futures basis, conditions that reward long-only and basis-long strategies and reinforce the flow→price feedback loop. If spot rallies while primary flows print negative, that’s a yellow flag that the move was driven by short-covering. Wednesday’s $91.5–$91.6 million net add says fresh capital, not just shorts, helped push BTC-USD toward $117,000; a repeat—and ideally an escalation—would strengthen the break attempt over $117,200.

BTC-USD | Supply Tells: Profit-Side Selling Slowed But Old-Coin Moves Argue For Disciplined Entries

Recent distribution saw only about 45% of sells coming from in-profit cohorts, a downshift from the post-high unwind that hints profit-taking is fading. Still, transfers on the order of ~3,000 BTC from older wallets hit the tape this week—episodic supply that can cap intraday extensions at obvious pivots like $117,200 and $120,000. The blend argues for buying strength through confirmed levels rather than pre-positioning too early inside $115,000–$117,000.

BTC-USD | What Turns Constructive Into Trend: Break And Close Above $117,200, Then Reclaim $120,000 With Flows To Match

A daily close above $117,200 accompanied by net creations north of ~$100 million would confirm a regime shift from defense to offense. The follow-through checkpoint is $120,000; reclaiming and holding that round number on rising spot volumes and tighter ETF spreads sets up a run at ~$123,000. If flows slip back negative and BTC-USD loses $111,800, expect a slide toward $110,000 and a quick sentiment reset.

BTC-USD | Positioning Call: Buy On Confirmation Above $117,200; Otherwise Neutral-To-Constructive Hold Inside $111,800–$120,000

Given the $91.5–$91.6 million inflow, IBIT’s ~$42 million lead, BITB’s ~$26 million support, GBTC’s ~$14.5 million add, corroborative Ether ETF creations, and a macro tape tilting dovish, the bias is bullish. The actionable stance is to treat a decisive break and close above $117,200 as a buy trigger with an initial objective at $120,000 and a stretch toward ~$123,000, while using $111,800 as the line that invalidates the setup. Until that confirmation prints, maintain a neutral-to-constructive hold if already long and avoid chasing wicks into $117,000 without matching flow strength.

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