Bitcoin moved toward the upper end of its recent range last week as demand through U.S. spot ETFs accelerated, with net inflows totaling $865.3 million over five consecutive sessions, the strongest weekly showing since April. Bitfinex Alpha said the funds absorbed about 13,300 BTC during that period, more than four times the roughly 3,150 BTC newly created by the network, highlighting how ETF buying outpaced new supply. BlackRock’s IBIT and Fidelity’s FBTC drove much of the activity, while Ether-focused ETFs also took in $243.7 million, suggesting investor appetite extended beyond Bitcoin. Even so, Bitcoin’s advance remained limited. The token rose slightly more than 2% for the week, trailing the S&P 500’s 3.58% gain as broader risk assets benefited from easing tensions and lower oil prices. Persistent supply appears to have offset stronger fund demand, including Strategy’s disclosed sale of 1,638 BTC for about $104.7 million at an average price near $63,957 to fund preferred dividends and a discounted share repurchase. Bitfinex also pointed to an on-chain cost-basis cluster of about 1.79 million BTC between $62,000 and $65,000, a range that may trigger selling as holders seek to exit around breakeven. The macro backdrop was supportive but mixed. July U.S. payrolls fell by 23,000, prior figures were revised lower, and the three-month average job gain slipped to about 20,000, while unemployment reached 4.1% as participation declined. Initial jobless claims stayed low, indicating cooling rather than a collapse in the labor market. Futures markets cut the probability of a September rate hike to 43.9%, and both Treasury yields and the dollar eased, although the 30-year Treasury yield remained above 5.2% amid inflation concerns and heavy government borrowing. Bitfinex said Bitcoin could break above $65,000 if ETF demand stays firm and inflation and long-term yields continue to ease.