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Bitcoin Rebounds as $297.6 Million Flows Into US Spot ETFs

Bitcoin Rebounds as $297.6 Million Flows Into US Spot ETFs

Improved institutional demand supports the market, but weak spot activity continues to limit momentum.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 19 August 2026 11:27 IST

Bitcoin Rebounds as $297.6 Million Flows Into US Spot ETFs

Photo Credit: Unsplash/Shubham Dhage

Investors monitor Bitcoin and major cryptocurrencies amid mixed market signals

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Highlights

Bitcoin faces immediate resistance at $65,000
US spot Bitcoin ETFs attract $297.6 million in one day
Fed hold expectations remain high for September

Bitcoin traded near Rs. 61.1 lakh on Wednesday as the cryptocurrency market showed signs of recovery around this level after buyers returned and briefly pushed Bitcoin towards Rs. 62 lakh. Ethereum (ETH) was trading near Rs. 1.8 lakh, while major altcoins showed mixed movement. According to market participants, improving institutional demand has supported the recovery, although weak spot and on-chain activity, elevated US Treasury yields and geopolitical risks continue to limit conviction. As per CoinGecko data, Bitcoin traded near $64,200 (roughly Rs. 61.4 lakh) and Ethereum (ETH) was trading near $1,910 (roughly Rs. 1.8 lakh).

The world's largest cryptocurrency gained 0.4 percent over the last 24 hours, according to Gadgets 360's price tracker. Analysts said Bitcoin's recovery has been supported by stronger institutional demand, with US spot Bitcoin ETFs attracting $297.6 million (roughly Rs. 2,849 crore).

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Major altcoins traded with mixed momentum on Wednesday.

Binance Coin (BNB) was priced around $601.41 (roughly Rs. 57,567), while Solana (SOL) traded near $76.86 (roughly Rs. 7,357). XRP hovered around $1.00 (roughly Rs. 96), and Dogecoin (DOGE) traded near $0.070 (roughly Rs. 6.7), indicating selective participation among large-cap cryptocurrencies.

Institutional Demand Returns Despite Weak Market Activity

Pointing to Bitcoin's latest recovery and the factors behind the move, Prateek Gupta, Head of Business, Mudrex, said, “Bitcoin briefly moved above $65,000 (roughly Rs. 62.2 lakh) as President Trump's comments on the Strait of Hormuz improved broader market sentiment. However, the recovery faces macro headwinds, with the 30-year US Treasury yield climbing to 5.34 percent, its highest since January 2007. CryptoQuant data suggests the rally may be a low-volume liquidity trap, driven more by short covering than fresh spot buying, with 637 BTC in short positions liquidated.”

Assessing the balance between improving ETF demand and subdued market activity, Vikram Subburaj, CEO, Giottus.com, said, “Bitcoin is up about 0.3 percent over 24 hours, as improving ETF demand is being offset by weak spot and on-chain activity. Bitcoin faces immediate resistance around $65,000-$66,000 (roughly Rs. 62.22 lakh-Rs. 63.17 lakh), while $63,000 (roughly Rs. 60.30 lakh) remains an important support zone [...] Investors should avoid chasing short-term moves. Staggered entries and limited leverage may be preferable until stronger market participation confirms the recovery.”

Overall, analysts said Bitcoin's recovery above $64,000 (roughly Rs. 61.26 lakh) has been supported by renewed buying and stronger institutional demand, although weak spot activity and elevated Treasury yields continue to create headwinds. Bitcoin's ability to hold $64,000 (roughly Rs. 61.26 lakh) and break through $65,000-$66,500 (roughly Rs. 62.22 lakh-Rs. 63.65 lakh) will be important for confirming stronger upside momentum.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More