U.S. spot Bitcoin ETFs recorded five consecutive sessions of net inflows last week, taking in $853.5 million after a $61.5 million net outflow the previous week and marking their strongest weekly haul since April. BlackRock's IBIT accounted for about $690 million, or roughly 80% of the total, lifting cumulative net inflows since launch to $52.18 billion. The funds ended the week holding $79.5 billion, equal to about 6.1% of Bitcoin's market capitalization. On Friday, IBIT drew $86.7 million and Fidelity's FBTC added $41 million, while Invesco's BTCO lost $19.4 million and VanEck's HODL shed $10.6 million. Daily momentum eased late in the week, with inflows slipping from $128.7 million on Thursday to $98.9 million on Friday. Bitcoin traded at about $65,100 on Monday morning, up 0.4% on the day and roughly 48% below its October 2025 record, according to CoinGecko. Tim Sun of HashKey said the buying likely reflected both portfolio rebalancing and some basis trading, with weaker U.S. employment data and lower rate-hike expectations acting as more important catalysts than crypto-specific drivers. He said repeated tests of the $60,000 to $61,000 area point to support, but cautioned the inflows were not yet enough to confirm a trend reversal. CoinShares head of research James Butterfill said cycle lows may now be behind the market, citing three consecutive weeks of whale accumulation after roughly $40 billion of whale selling since October 2025 and $1.05 billion of inflows into digital asset investment products globally last week. He still expects Bitcoin to remain range-bound for two to three months, potentially toward $80,000, and said a move toward $100,000 would require a clearer deterioration in employment data and a more meaningful drop in rate expectations. Bloomberg ETF analyst Eric Balchunas offered a separate explanation, noting that IBIT, FBTC and several other funds have posted daily inflows since the Coldcard exploit began draining Bitcoin from air-gapped wallets. While he said the correlation makes the timing hard to ignore, there is still no direct evidence that Coldcard users shifted assets into ETFs. Decrypt also reported that exchange deposits made up of sub-10 BTC transfers reached 7,300 BTC on July 31, the highest since February, with CryptoQuant saying holders may have been moving coins for safety while stressing the link was not certain. Stephen Wundke of Algoz Technologies described the latest activity as bottom-buying and said little may change before mid-September, when the Clarity Act gets another window and the Fed next meets. He pointed instead to geopolitics, saying an Iran peace deal could ease inflation fears and reduce the mood for rate rises in a market he called oversold.