Bitcoin moved toward the upper end of its recent range last week as stronger institutional demand through U.S. spot ETFs lifted buying interest. The funds posted $865.3 million in net inflows over five straight sessions, their strongest weekly result since April, and absorbed about 13,300 BTC during the period, more than four times the roughly 3,150 BTC newly created by the network, according to Bitfinex Alpha. BlackRock’s IBIT and Fidelity’s FBTC led much of the activity, while Ether-focused ETFs added $243.7 million, showing demand extended beyond Bitcoin. Even so, Bitcoin rose only slightly more than 2% versus a 3.58% weekly gain in the S&P 500, suggesting persistent supply was capping the move. Strategy disclosed the sale of 1,638 BTC for about $104.7 million at an average price near $63,957, with proceeds earmarked for preferred dividends and a discounted share repurchase. Bitfinex said an estimated 1.79 million BTC have cost bases (average purchase-price levels) between $62,000 and $65,000, creating a supply overhang (concentrated potential selling pressure) in that range. Softer U.S. labor data also helped the backdrop, with July payrolls down 23,000, the three-month average job gain near 20,000, unemployment at 4.1%, and initial jobless claims still low, pointing to cooling rather than collapse. Futures markets cut the probability of a September rate hike to 43.9%, while Treasury yields and the dollar eased, though the 30-year Treasury yield stayed above 5.2%. Bitfinex said Bitcoin could break above $65,000 if ETF demand remains strong and both inflation and long-term yields ease.