Bitcoin Climbs Amid Market Recovery
Bitcoin climbed 2.06% over the past 24 hours, reaching above $116,200, recovering from a week-long decline of –1.51% and aligning with the broader crypto market’s 2.98% daily gain. The rally was driven by a mix of renewed institutional inflows, regulatory momentum, and bullish technical signals.
ETF Inflows Return After Multi-Day Outflows
U.S. spot Bitcoin ETFs saw a sharp turnaround on August 6, recording $91.6 million in net inflows, ending a four-day outflow streak that had totaled over $1.5 billion. BlackRock’s IBIT led the recovery with $42 million in new capital. The resurgence in ETF demand suggests that investor confidence is returning, especially after fears of prolonged profit-taking. With $146.7 billion in total ETF assets under management, flows into these products remain one of Bitcoin’s most influential liquidity drivers. If daily inflows consistently rise above $100 million, analysts expect bullish momentum could carry BTC toward the $120,000 mark.
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Trump’s 401(k) Executive Order Boosts Sentiment
Fueling optimism further, President Donald Trump issued a new executive order on August 7 directing the Department of Labor to review restrictions on crypto within 401(k) retirement plans. The directive pushes regulators to reconsider outdated rules and coordinate with the SEC and Treasury to open the door for crypto, private equity, and other alternative assets in traditional retirement portfolios. The move could unlock trillions in institutional capital, with firms like BlackRock already planning 401(k) funds that include 5–20% crypto allocations, per CNBC. Beyond retirement policy, the order reflects Trump’s broader crypto pivot. Recent months have seen lawsuits against major platforms paused, new advisory roles established, and even calls for a national Bitcoin reserve—a clear signal that the administration aims to embrace the sector.
Technical Outlook
Bitcoin remains in a consolidation zone, with neutral RSI readings and clean Fibonacci retracement levels suggesting room for continued upside. Analysts note that current price action reflects healthy cooling, not exhaustion, and see structure building for another potential leg up.
Kosta Gushterov
Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.
